Markets: energy stocks lift FTSE 100

The FTSE 100 finished in positive territory after energy stocks tracked the price of oil up. The index closed up 0.5% at 6,782.

By
published
in Features
  • FTSE 100 up 0.5% to 6,782
  • Gold down 0.73% to $1,274.46/oz
  • £/$ - 1.5039

Tullow Oil was the day's top performer with a 9.3% rise. BG Group added 5.3%m, while Royal Dutch Shell and BP each gained 3.1% .

In European markets, the Paris CAC 40 rose 0.5% to 4,637, and the German Xetra Dax rose 1.3% to 10,694

In the US, the Dow Jones Industrial Average added 1.1% to 17,361, the S&P 500 gained 1.3% to 2,020, and the Nasdaq Composite was 0.9% higher at 4,676.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Overnight in Japan, the Nikkei 225 fell 1.3% to 17,335, and the broader Topix index lost 1.2% to 1,392. And in China, the Shanghai Composite rose 2.5% to 3,204, and the CSI 300 was 2.5% higher at 3,437

Brent spot was trading at $55.41 early today, and in New York, crude oil was at $50.00. Spot gold was trading at $1,284 an ounce, silver was at $17.52 and platinum was at $1,235.

In the forex markets this morning, sterling was trading against the US dollar at 1.5033 and against the euro at 1.3251. The dollar was trading at 0.8815 against the euro and 117.26 against the Japanese yen.

And today, BP announced a 10% fall in full year profits to $12.1bn, after writing down $3.6bn of assets. Fourth quarter profits fell less than analysts had forecast, however after Russian operator Rosneft made more money than expected. BP has a 20% stake in Rosneft.

David Stevenson, former MoneyWeek writer and director of The Fleet Street Letter, believessilver could be about to start a record climb. Click here(capital at risk)to read about the three irresistible forces David believes could push the price of silver through the roof.

MoneyWeek
Latest