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FTSE 100 Index FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  26.10 0.35% 7,541.85 7,541.89 7,493.66 7,515.75 0 16:35:29

FTSE 100 Climbs 0.9% as Oil Stocks Soar

04/07/2022 5:20pm

Dow Jones News


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The FTSE 100 rose Monday, prompted by strong gains from oil majors BP and Shell--two of the index's largest members. BP climbed 4.4% and Shell rose 3.9%, helping London's blue-chip index close 0.9% higher. "A small bounce back in the oil price was enough to give BP and Shell a lift and provide welcome support to the FTSE 100 index," Russ Mould from AJ Bell said in a note. Harbour Energy, a smaller, U.K.-focused oil-and-gas producer which joined the ranks of the FTSE 100 in May, jumped 5.2%. Shares in mining companies rose as well, with gold producer Endeavour up 3.9%. Copper peer Antofagasta, however, fell 1.3% as investors digested the impact of the recent tax reforms proposals in Chile.

 
Companies News: 

Palace Capital to Buy Back 2.3 Million Shares for Up to GBP7 Mln

Palace Capital PLC said Monday that it aims to buy back 2.3 million shares in the company for no more than 7 million pounds ($8.5 million).

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Sareum Holdings Says GSK Completes Acquisition of Sierra Oncology

Sareum Holdings PLC said on Monday that GSK PLC has completes the acquisition of Sierra Oncology for US$1.9 billion in cash and therefore will own Sareum's cancer treatment SRA737 license.

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Bigblu's 1H Revenue, Adjusted Ebitda Grew; Trading in Line with Views

Bigblu Broadband PLC said Monday that its performance for the first half of fiscal 2022 was marked by a rise in revenue and adjusted Ebitda, and that it has traded in line with views.

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Spirax-Sarco Engineering in Exclusive Talks to Buy Vulcanic for EUR261.7 Mln

Spirax-Sarco Engineering PLC said Monday that it is in exclusive talks to buy Vulcanic Group from French private equity company Qualium for 261.7 million euros ($272.8 million).

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Palace Capital Says it Will Focus on ESG Strategy, Will Dispose of Industrial Portfolio

Palace Capital PLC said Monday that it is changing its strategy and will refocus to environmental, social, and governance-driven operations.

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H&T Group Buys Swiss Time Services for GBP4.3 Mln

H&T Group PLC said Monday that it has acquired the watch servicing and repair center Swiss Time Services Ltd. for 4.3 million pounds ($5.2 million).

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Ex-KPMG boss Mary O'Connor joins insurer Howden to run new capital advisory business -- Financial News

Mary O'Connor was the first woman to lead a Big Four firm in the UK

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Grafton Group's CEO Gavin Slark to Leave by End 2022

Grafton Group PLC said Monday that its Chief Executive Gavin Slark intends to step down on Dec. 31.

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Porvair 1H Pretax Profit Rose, Sees Robust 2022

Porvair PLC said Monday that pretax profit and revenue for the first six months rose, driven by growth across all its divisions as it sees a strong 2022 performance.

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Providence Resources Appoints Alan Curran as Interim CEO

Providence Resources PLC said on Monday that it has appointed Alan Curran as Interim Chief Executive Officer with immediate effect.

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H&T Group Says 1H Lending Demand Gained Momentum

H&T Group PLC said Monday that demand for pledge lending in the first half continued to gain momentum, and that its lending volume was currently 40% above prepandemic levels.

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Omega Diagnostics Agrees to CD4 Business Sale; Shares Rise

Shares of Omega Diagnostics Group PLC rose 13% on Monday after the company said that it has agreed to the sale of its CD4 business, in line with the board's plan to focus on its higher-growth Health & Nutrition division.

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Strip Tinning Awarded Contract by BMW to Add $1.2 Mln to 2023 Revenue

Strip Tinning Holdings PLC said Monday that it has secured a new five-year nomination with BMW Industries Ltd. for its glazing division, which is expected to generate revenue for 2023 of around $1.2 million.

 
Market Talk: 

AO World's Shares Drop Over Financial Deterioration Fears

0805 GMT - AO World PLC's shares on Monday opened lower after The Times reported, citing unnamed sources, that one of the company's main credit insurers, Atradius, has cut cover for suppliers on the deterioration of the group's finances. The online electrical-goods retailer's cash burn pointed to a deterioration in supplier payment terms, according to analysts at investment bank Panmure Gordon, The Times reports. Furthermore, AO World would need between GBP30 million and GBP50 million to keep the company on the road, according to The Times. Shares are down 16% at 56.85 pence. (sabela.ojea@wsj.com; @sabelaojeaguix)

 

Contact: London NewsPlus; paul.larkins@wsj.com

 

(END) Dow Jones Newswires

July 04, 2022 12:05 ET (16:05 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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