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London midday: Markets quiet ahead of Christmas but stocks extend gains

Mon, 22nd Dec 2014 11:35

UK stocks were set to hit a two-week high on Monday as the 'Santa Rally' continued into its fifth straight day, with energy shares providing a boost on a continued rebound in crude prices.London's FTSE 100 was up 0.8% at 6,597 by around midday. It has not closed above this mark since 8 December."In mid-morning trading the FTSE 100 is [...] higher, as the pre-Christmas rally continues on its merry way," said analyst Chris Beauchamp from IG."The City is quietening down rapidly, while the corporate and economic calendars are emptying too. Yet there are still buyers active, as the year-end window dressing pushes major indices higher," he said.The FTSE 100 surged 4% last week, rising nearly 6% over the past four sessions alone. This was the Footsie's best weekly performance since December 2011 after the Federal Reserve promised to be "patient" about the first rate rise and markets rebounded strongly after a recent sell-off.UK equity markets are open as normal until Wednesday when they close half a day early for Christmas Eve. They will not open again until Monday 29th December.Economic data was thin on the ground on Monday, though figures from Haart showed that London house prices fell below £500,000 on average in November. The survey revealed that London house prices fell overall by 1.9% with prices in some of the wealthier south-western districts in the capital plunging by 14%, further evidence that 2014's property boom is cooling.Energy stocks trade oil higherOil producers such as Shell, BP, Ophir Energy, Nostrum Oil & Gas and Afren were making decent gains on Monday. Brent crude for February delivery was up 0.5% at $61.66 a barrel, as it continues to rebound after dropping below the $60 mark last week for the first time since mid-2009.Mining stocks were however limiting upside on stock markets with precious metal miners Randgold and Fresnillo among the worst performers. Anglo American and Antofagasta also fell.Home improvement retailer Kingfisher edged higher after agreeing to sell a controlling 70% stake in its B&Q China business to Wumei Holdings for £140m.Kier Group was in demand after its joint venture with Clancy Docwra was named as the preferred bidder for a £1bn Thames Water infrastructure project. The contract, which an estimated value to the KCD joint venture of £500m over the next five years, will run for up to 15 years.Market MoverstechMARK 2,953.64 +0.57%FTSE 100 6,597.02 +0.79%FTSE 250 15,940.25 +0.32%FTSE 100 - RisersAdmiral Group (ADM) 1,343.00p +2.60%Kingfisher (KGF) 331.70p +2.31%Barratt Developments (BDEV) 468.40p +2.03%WPP (WPP) 1,352.00p +1.81%Johnson Matthey (JMAT) 3,411.00p +1.79%Standard Chartered (STAN) 943.10p +1.74%Smith & Nephew (SN.) 1,108.00p +1.74%Royal Dutch Shell 'B' (RDSB) 2,260.50p +1.71%Imperial Tobacco Group (IMT) 2,903.00p +1.61%Compass Group (CPG) 1,103.00p +1.57%FTSE 100 - FallersRandgold Resources Ltd. (RRS) 4,286.00p -3.27%Fresnillo (FRES) 726.00p -1.76%TUI AG Reg Shs (Post- 16/12/14)(DI) (TUIJ) 1,055.00p -1.68%Tullow Oil (TLW) 418.50p -1.34%Weir Group (WEIR) 1,880.00p -1.31%Antofagasta (ANTO) 737.50p -0.94%Anglo American (AAL) 1,183.00p -0.84%RSA Insurance Group (RSA) 446.20p -0.76%Tesco (TSCO) 184.00p -0.76%Aviva (AV.) 493.00p -0.40%FTSE 250 - RisersEvraz (EVR) 139.80p +7.46%Nostrum Oil & Gas (NOG) 446.60p +6.33%Home Retail Group (HOME) 201.20p +4.96%Afren (AFR) 49.55p +4.16%Polymetal International (POLY) 571.50p +3.91%Hunting (HTG) 545.50p +3.31%Ophir Energy (OPHR) 140.50p +3.08%Bank of Georgia Holdings (BGEO) 1,945.00p +2.96%Ocado Group (OCDO) 391.40p +2.59%Regus (RGU) 204.90p +2.55%FTSE 250 - FallersPets at Home Group (PETS) 200.90p -5.15%Centamin (DI) (CEY) 55.35p -4.90%IP Group (IPO) 217.30p -4.65%Synthomer (SYNT) 223.30p -4.65%Zoopla Property Group (WI) (ZPLA) 203.90p -2.95%Soco International (SIA) 300.00p -2.82%Renishaw (RSW) 1,960.00p -2.68%Homeserve (HSV) 325.00p -2.14%Allied Minds (ALM) 336.00p -2.11%RPC Group (RPC) 524.00p -2.06%
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UPDATE 2-FTSE 100 edges down as COVID fears dull festive cheer

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30 Dec 2021 05:33

UPDATE 5-Oil prices rise slightly ahead of OPEC+ meeting next week

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28 Dec 2021 09:41

S.African court halts Shell's offshore seismic survey

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27 Dec 2021 14:01

Mexican president says Pemex to close Deer Park deal in January

MEXICO CITY, Dec 27 (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) will complete its purchase of a controlling interest in a Texas oil refinery in January, Mexican President Andres Manuel Lopez Obrador said on Monday.Mexico's go...

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24 Dec 2021 10:03

UPDATE 1-Russia says Europe missing out on gas with Nord Stream 2 delay

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24 Dec 2021 08:26

Russia's Novak: Nord Stream 2 hindered by politics

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24 Dec 2021 08:19

Russia says Nord Stream 2 a bargaining chip for U.S., EU, Interfax reports

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23 Dec 2021 14:14

Third Point's Loeb slams activists after UK fund chairman quits

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22 Dec 2021 20:56

Shell declares force majeure on Nigerian Forcados crude

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22 Dec 2021 13:49

UPDATE 3-Mexico says U.S. approves Deer Park refinery deal, sees completion early 2022

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22 Dec 2021 13:49

UPDATE 2-Mexico says U.S. government approves Deer Park refinery deal

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22 Dec 2021 13:49

UPDATE 1-Mexico says U.S. government approves Deer Park refinery deal

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22 Dec 2021 13:15

Mexico says U.S. government approves Deer Park refinery deal

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21 Dec 2021 19:06

UPDATE 1-Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

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21 Dec 2021 18:32

Texas lawsuit by laundromat owners seeks to block Shell refinery sale to Pemex

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