FTSE 100 gains as oil stocks jump; Cineworld slumps over 50%

Published 05/10/2020, 08:21
Updated 05/10/2020, 08:24
© Reuters.
UK100
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BP
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SHEL
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WEIR
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FTMC
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* FTSE 100 gains 1.1%, FTSE 250 up 0.7%

Oct 5 (Reuters) - London's FTSE 100 rose on Monday as oil
stocks jumped on a rebound in crude prices following White House
reports of Donald Trump's improving health, while Cineworld
slumped after unveiling a plan to temporarily close its U.S. and
UK operations.
The blue-chip index .FTSE gained 1.1% with oil majors BP
BP.L and Royal Dutch Shell RDSa.L being the biggest boosts,
while the mid-cap index .FTMC rose 0.7%. The world's second-biggest cinema operator, Cineworld
CINE.L , slumped 56% after it said it was considering
temporarily closing all its screens in the United States and
Britain after studios pulled major releases such as the latest
James Bond film. Engineering company Weir Group Plc WEIR.L gained 20.6%
after it said it had agreed to sell its oil and gas division to
U.S. heavy equipment maker Caterpillar Inc CAT.N for $405
million in cash.

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