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FTSE 100 rises as surge in oil prices lifts energy stocks

Published 06/01/2021, 09:21
Updated 06/01/2021, 09:24
© Reuters.
UK100
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BP
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RDSa
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INF
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GRG
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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 0.8%, FTSE 250 adds 0.5%

Jan 6 (Reuters) - Energy stocks pushed London's FTSE 100
higher on Wednesday as crude oil prices jumped to their highest
in eleven months after Saudi Arabia agreed to reduce output more
than expected.
Oil heavyweights BP BP.L and Royal Dutch Shell RDSa.L
provided the biggest boosts to the export-heavy FTSE 100 index
.FTSE . The FTSE rose 0.8%, up for the third consecutive
session, while the mid-cap index .FTMC added 0.5%.
Saudi Arabia, the world's biggest oil exporter, said on
Tuesday it would make make additional, voluntary oil output cuts
of 1 million barrels per day (bpd) in February and March.
Informa Plc INF.L , the world's largest exhibitions group,
rose 0.8% even after forecasting a more than 70% plunge in its
2020 profit. British baker and fast food retailer Greggs GRG.L traded
higher at 3.1% after it said sales decline had slowed, but
warned it does not expect profits to return to pre-pandemic
levels until 2022 at the earliest.

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