FTSE 100 Gains As Oil Prices Rebound
(RTTNews) - U.K. stocks rose on Friday as energy stocks rallied, offsetting losses in the mining sector.
The benchmark FTSE 100 was up 31 points, or 0.4 percent, at 7,545 after finishing marginally lower in the previous session.
BP Plc rose 1.3 percent and peer Shell added 0.8 percent as oil prices jumped around 2 percent in Asian trade after calls from Saudi Arabia and Russia for OPEC+ members to join output cuts.
Miner Anglo American plunged 5 percent after it announced plans to slash production in a bid to cut costs.
Monks Investment Trust gained 1 percent after reporting narrower loss in first half of the year.
Fintech company IG Group rallied 2 percent as it announced the appointment of Breon Corcoran as its new chief executive officer, effective January 29, 2024.
Berkeley Group Holdings fell 2.2 percent after it flagged persisting housing demand woes.
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