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FTSE 100 hits nine-month high as oil prices jump

Published 04/12/2020, 09:19
Updated 04/12/2020, 09:24
© Reuters.
UK100
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BP
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SHEL
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FTMC
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(For a Reuters live blog on U.S., UK and European stock
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* FTSE 100 up 0.5%, FTSE 250 down 0.1%

Dec 4 (Reuters) - London's FTSE 100 rose to a nine-month
high on Friday as a jump in oil prices boosted energy stocks,
while investors remained focussed on Brexit trade talks with
only four weeks left for Britain's transition period out of the
bloc to end.
The blue-chip FTSE 100 .FTSE was up 0.5% by 0807 GMT and
was set for a fifth straight week of gains on optimism that a
COVID-19 vaccine would lead to a swift economic recovery.
A British minister said the country hoped for millions of
doses of the vaccine produced by Pfizer Inc PFE.N and BioNTech
SE 22UAy.DE by the end of the year.
Royal Dutch Shell RDSa.L and BP BP.L were among the
biggest gainers on the FTSE 100 as major oil producers agreed to
continue production cuts to overcome coronavirus-induced demand
concerns. O/R
The mid-cap FTSE 250 .FTMC , considered a barometer of
Brexit sentiment, dropped 0.1%.
The European Union and Britain talked into late on Thursday
to try to secure a Brexit trade deal, with an EU official saying
an agreement was closer than ever but a UK government source
warning chances for a breakthrough were receding.

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