FTSE 100

Markets

FTSE 100 index rallies thanks to rising oil price

London’s top flight index rallied, as the rising oil price helped the market bounce back from Thursday’s three-and-a-half year low. The FTSE 100 Index rose 1.7% or 97 points to 5634.6, as oil stocks rose sharply on the back of a near 5% growth in the price of Brent crude.

Markets

City nerves take a bashing after oil price fall

The FTSE 100 Index saw its steepest one-day fall in five months today as the prospect of higher US interest rates and the latest drop in oil prices combined to send stocks tumbling. London’s top-flight saw £44billion wiped off its value as it fell 2.5%, or 173.6 points, to 6,702.8 - the heaviest percentage fall since October 15.

Markets

Tullow Oil ejected from FTSE 100

Tullow Oil, one of the largest independent oil explorers, has been ejected from the FTSE-100, the London Stock Exchange confirmed last night. The Africa-focused explorer slipped into the FTSE-250 index after losing more almost 55% of its value since the slump in global oil prices.