The FTSE 100 Index eked out a gain of 8.21 points, or 0.13%, to 6,269.73 today, as traders continued to show caution despite recent progress towards a vaccine for Covid-19.
London’s blue-chip FTSE 100 Index fell 106.54 points, or 1.73%, to 6,049.62 as Covid-19 continued to weigh heavily on the world’s leading financial markets today.
The FTSE 100 Index failed to hold on to Monday’s gains today, despite a rally for stocks on Wall Street overnight.
The FTSE 100 Index edged up a further 822.22 points, or 1.4%, to 5,935.98 today.
Brent crude oil was down about 6.5% at $28.96 per barrel at the London market close despite spending much of today on the advance.
The price of a barrel of Brent crude surged above $30 on Tuesday amid growing hopes that global demand for oil is rising again.
The FTSE 100 started the week slightly in negative territory but oil prices were up amid hopes new production cuts can reduce a massive global oversupply.
Brent crude oil was up by nearly 8% to $26.16 per barrel by the London market close today.
Brent crude oil was up by 7.3% at $24.4 per barrel, as of 6pm.
Share price growth for oil majors BP and Shell boosted the FTSE 100 yesterday, with London’s blue-chip index rising 111.1 points, or more than 1.9%, to 5,958.5.
European markets started the week in positive territory, with all the leading financial indices enjoying gains yesterday.
Brent crude had edged up just over 1% to $21.55 a barrel by the London market close today, making it three days of gains on the trot in a historic week for oil prices.
Brent oil enjoyed a better day on the markets on Wednesday despite warnings a barrel of the crude may become “cheaper than a latte”.
The world’s two leading oil price benchmarks suffered contrasting fortunes today amid ongoing supply and demand fears.
Brude crude oil prices were up nearly 2% at $33.49 a barrel by the London market close today as traders awaited news of a much-anticipated global production cut.
London’s top-flight index finished on an all-time high for the second year in a row as surging mining stocks ensured a strong performance from the market.
Shares in Wood Group and its takeover target Amec Foster Wheeler (AFW) tanked yesterday after the Serious Fraud Office (SFO) formally launched a probe into alleged bribery and corruption.
About 800 onshore workers employed by Total in Aberdeen are moving into Subsea 7’s old west campus building in nearby Westhill.
Job losses and office closures are inevitable but Wood Group will keep its headquarters in Aberdeen following a £2.2billion takeover of energy services rival Amec Foster Wheeler (AMF), it was announced yesterday.
The Unite union focused, not surprisingly, on the inevitable job losses.
Scottish engineer Weir Group said today it returned to growth during the final quarter of 2016, boosted by a recovery in oil and gas markets.
Plexus Holdings warned today its revenue for the current trading year was “running materially behind expectations”.
Energy service company Halliburton Company highlighted “ a tale of two cycles”, with the North America market seemingly on the mend but continued woes elsewhere, as it delivered its 2016 results.
Higher petrol and food prices are expected to send inflation to a 28-month high when official figures are released today.
A new poll of oil market experts has found they expect the price of a barrel of Brent crude to gradually rise towards $60 per barrel by the end of 2017, from an average of about $45 this year.