🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

FTSE 100 heads for best session in 10 days

Published 19/08/2019, 08:25
© Reuters.  FTSE 100 heads for best session in 10 days
UK100
-
HSBA
-
BP
-
SHEL
-
FTMC
-

(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 up 0.9%, FTSE 250 up 0.6%

* Chinese moves on corporate interest rates lift stocks

globally

* BP , Shell jump as Yemen attack adds to Middle East

tensions

* HSBC up 2%, leading other Asia-focussed financials

Aug 19 (Reuters) - Sharp rises in oil company shares drove

Britain's FTSE 100 higher on Monday, after an attack on a Saudi

oil facility by Yemeni separatists pushed crude prices higher,

while Asia-exposed banks gained following moves by China to keep

business interest rates low.

By 0710 GMT, the FTSE 100 .FTSE had jumped nearly 1%, its

biggest one-day rise in more than 10 days, while the midcap

index .FTMC was 0.6% higher.

Shell RDSa.L and BP BP.L both rose 1.5%, tracking a

surge in crude prices following a drone attack by Yemen's Houthi

group on an oilfield in eastern Saudi Arabia on Saturday, which

caused a fire at a gas plant and added to Middle East tensions.

Miners and Asia-exposed financial heavyweights, led by HSBC

HSBA.L with a near 2% rise, also offered support after China's

central bank announced a set of reforms to help lower borrowing

costs for companies and support an economy that has been bruised

by the trade war with the United States.

Latest comments

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.