FTSE 100 movers: Hargreaves Lansdown slumps; Fresnillo shines

London’s FTSE 100 was down 4.3% at 4,970.42 in afternoon trade on Monday as the Federal Reserve’s coronavirus stimulus package failed to assuage investors.

Investment platform Hargreaves Lansdown was the biggest loser on the index.

Retailer Next, budget airline easyJet and Carnival were all weaker amid concerns about the impact of coronavirus and the measures being in put in place to slow its spread.

On the upside, precious metals miner Fresnillo was the standout gainer as gold prices shot higher after the Fed ramped up monetary stimulus.

Royal Dutch Shell was also on the front foot after saying it was cutting capital expenditure, underlying operating costs and postponing the next phase of its share buyback to save $10bn in the face of the Covid-19 pandemic.

The oil giant said it would cut underlying operating costs by $3bn - $4bn a year over the next 12 months compared to 2019 levels and reduce cash capital expenditure to $20bn or below for 2020 from a planned level of around $25bn. Shelving the share buyback would save anther $1bn.

"Together, these initiatives are expected to contribute $8bn - $9bn of free cash flow on a pre-tax basis. Shell is still committed to its divestment programme of more than $10bn of assets in 2019-20 but timing depends on market conditions."

FTSE 100 - Risers

Fresnillo (FRES) 627.60p 5.37%
Royal Dutch Shell 'A' (RDSA) 1,110.20p 4.52%
M&G (MNG) 113.70p 2.80%
Royal Dutch Shell 'B' (RDSB) 1,059.20p 2.48%
Informa (INF) 389.60p 2.18%
Whitbread (WTB) 2,365.00p 1.03%
Royal Bank of Scotland Group (RBS) 114.00p 0.18%
BP (BP.) 251.80p 0.04%
London Stock Exchange Group (LSE) 6,218.00p -0.03%
Prudential (PRU) 817.40p -0.41%

FTSE 100 - Fallers

Hargreaves Lansdown (HL.) 1,180.00p -15.50%
Centrica (CNA) 37.26p -14.25%
Melrose Industries (MRO) 85.36p -14.21%
Next (NXT) 3,445.00p -13.96%
easyJet (EZJ) 527.20p -12.13%
Halma (HLMA) 1,674.00p -11.08%
Scottish Mortgage Inv Trust (SMT) 462.00p -11.07%
Carnival (CCL) 788.60p -10.97%
Legal & General Group (LGEN) 140.25p -10.70%
Associated British Foods (ABF) 1,581.50p -10.07%