A rally in oil majors pushed the UK’s top share index to an all-time
high on Thursday, though elsewhere retailers were under pressure after a
profit warning from Debenhams.
Britain's FTSE 100 .FTSE index was up 0.2 percent at 7,686.95 points by 0948 GMT, while mid caps .FTMC rose 0.1 percent.
A rally in cyclical sectors such as financials and energy added around 20 points to the index, with BP (BP.L) and Shell (RDSa.L) rising 1 percent and 0.8 percent respectively.
The UK’s oil and gas index .FTNMX0530 was up 0.8 percent at its highest level since May 2008.
The British oil majors aped a move higher in oil prices, which were spurred to their highest level since mid-2015 on the back of tensions in producer Iran. [O/R]
A supportive research note from Barclays also helped the energy sector, in which analysts said they expected European integrated oil and refining companies to be cash flow positive after dividends in the fourth quarter, thanks to a higher oil price.
Britain's FTSE 100 .FTSE index was up 0.2 percent at 7,686.95 points by 0948 GMT, while mid caps .FTMC rose 0.1 percent.
A rally in cyclical sectors such as financials and energy added around 20 points to the index, with BP (BP.L) and Shell (RDSa.L) rising 1 percent and 0.8 percent respectively.
The UK’s oil and gas index .FTNMX0530 was up 0.8 percent at its highest level since May 2008.
The British oil majors aped a move higher in oil prices, which were spurred to their highest level since mid-2015 on the back of tensions in producer Iran. [O/R]
A supportive research note from Barclays also helped the energy sector, in which analysts said they expected European integrated oil and refining companies to be cash flow positive after dividends in the fourth quarter, thanks to a higher oil price.
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