Optimism on currency benefits helped to lift to its highest level since 2008 as it claimed the largest riser spot on the FTSE 100.

Analysts at Barclays raised the private equity company’s price target to 680p, up from 595p.

They expect the stock to benefit from weakness in sterling compared with the dollar and euro after the UK’s decision to leave the EU. The stock rose 3.3 per cent to 610.5p.

3i’s largest asset is Action, the discount retailer, which the company recently revalued.

Analysts suggest that Action stands to benefit from the possible risk of recession in Europe and point out its other large assets are defensively positioned. 3i stock has risen by 29.4 per cent so far this year compared with 7.5 per cent for the FTSE 100.

Gold miner was the biggest faller on the FTSE 100 after indicating that issues at the Tongon mine in the Côte d’Ivoire will hit production. The stock lost 3.4 per cent to £85.50.

Randgold has gained 106.4 per cent this year and has benefited from strong appetite for gold against a volatile market backdrop. The gold price edged down against the dollar and other precious metal stocks weakened on Monday.

FTSE 250 gold miner was one of the worst performing stocks on the index and lost 2.6 to 544.5p. , which mines silver and gold, lost 1.6 per cent to £18.01.

Despite the day’s losses, miners such as Acacia have over recent weeks helped to boost the FTSE 250 index following its initial slump in response to June’s Brexit vote. The index is now within 2 per cent of its level before the vote.

The London benchmark FTSE 100 index slipped 0.3 per cent, or 20.45 points, to 6,710.13 on Monday.

Other energy companies were some of the biggest fallers on the FTSE 100 on Monday. Brent crude sank to its lowest level since May. fell 2.6 per cent to £20.39 while fell by 2.6 per cent to 440.4p.

Wealth manager s’s Place rose sharply after Deutsche Bank raised its price target to 885p from 825p. Its share price was up 2 per cent to 888p.

The company’s share price has outperformed competitors since the vote to leave the EU, which sparked market volatility and the risk of retail outflows across the industry.

“Notwithstanding a potential slowdown in the wider economy post-Brexit, we continue to see SJP as strongly positioned; indeed, Brexit arguably provides extra opportunity for the group’s advisers to engage with their clients, and in a world of even lower bond yields the demand and need for advice is likely to have further increased,” analysts at Deutsche Bank wrote.

was another major riser on the FTSE 250, rising 4.9 per cent to 328.8p after merger interest from and .

The company has recently parted company with its chief executive. Rank Group lost 0.5 per cent to 235.9p while 888 jumped 3.4 per cent to 229.5p.