Investing.com - Financial Markets Worldwide
👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Strength in oil majors keeps FTSE 100 afloat

Published 30/05/2019, 08:16
Strength in oil majors keeps FTSE 100 afloat
UK100
-
BP
-
SHEL
-
FGP
-
DLAR
-
FTMC
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.2%, FTSE 250 up 0.3%
* Oil giants gain, offset some trade worries
* Mid-cap FirstGroup hits near 2-yr high

May 30 (Reuters) - Gains in heavyweight oil company shares
helped London's main index inch higher on Thursday even as some
aversion to risky assets prevailed after Beijing dialled up the
rhetoric against Washington in their protracted trade war.
The FTSE 100 .FTSE was up 0.2% by 0704 GMT. The mid-cap
FTSE 250 .FTMC rose 0.3%, helped in part by a surge in rail
and bus operator FirstGroup.
Oil majors Shell RDSa.L and BP BP.L boosted the main
share index as oil prices rose on Thursday after an industry
report showed a bigger-than-expected decline in U.S. crude
inventories, though global trade uncertainty still loomed. O/R
Markets have been bracing for the possibility that a
resolution to the Sino-U.S. spat may not be imminent. China
fired another shot at the United States on Thursday as Vice
Foreign Minister Zhang Hanhui said provoking trade disputes was
"naked economic terrorism". FirstGroup FGP.L , under pressure from a shareholder to
make strategic changes, jumped nearly 11% to a near two-year
high after it put its U.S. coach service Greyhound up for sale
and also said it was looking to separate its UK First Bus
operations. Among smaller stocks, De La Rue Plc DLAR.L tanked 19% and
was on course for its worst day since September 2014, after the
banknote and passports maker warned of "somewhat lower" profit
in fiscal 2020 and its chief executive would stepped down.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.