Business

FTSE buoyed by mild rise in oil price



Search company or market
Search company or market:
Refresh this page Launch Marketwatch ticker
London | Wall Street | Asia

FTSE 100 Index

Last Updated at 04 Sep 2017, 11:23 GMT *Chart shows local time FTSE 100 intraday chart
value change %
7419.43 -
-19.07
-
-0.26

Top winner and loser

Fresnillo

1654.00 p +
+37.00
+
+2.29

Royal Mail

386.40 p -
-6.00
-
-1.53
value change %

FTSE 250 Index

19705.75 -
-80.43
-
-0.41

FTSE 350 Index

4117.27 -
-11.64
-
-0.28

FTSE All Share Index

4064.32 -
-11.43
-
-0.28

FTSE Techmark Index

4419.85 -
-30.32
-
-0.68

(Close): London's main share index closed at a six-week high, as a small recovery in oil prices buoyed energy firms' shares.

The FTSE 100 closed 18.92 points higher, or 0.3%, at 6654.37.

Shares in oil and gas company Petrofac rose 2.5% and BP rose 0.4%, while Royal Dutch Shell 'A' and 'B' rose 1.2% and 1% respectively.

The price of Brent crude rose by almost 2% to $78.99 a barrel, after falling to four-year lows earlier in the week.

However earlier on Friday, the International Energy Agency warned oil prices were likely to continue falling well into 2015.

The IEA, a consultancy to 29 countries, said weak demand and the US shale gas boom meant crude's recent fall below $80 a barrel was not over.

Shares also welcomed news of stronger-than-expected growth figures from the eurozone.

Latest figures from Eurostat showed the eurozone grew by 0.2% in the third quarter of the year, with Germany avoiding falling into recession.

Shares in Aggreko rose 3.4% after the temporary power supply firm said third-quarter underlying revenues were up 6% from a year earlier and that trading was in line with expectations.

On the currency markets, the pound fell 0.22% against the dollar to $1.5676 and slipped 0.74% against the euro to €1.25.