Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.

Less Ads, More Data, More Tools Register for FREE
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’View Video
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America
Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin AmericaView Video

Latest Share Chat

UPDATE 2-Energy stocks push FTSE 100 higher; Cineworld slumps

Mon, 05th Oct 2020 09:39

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)

* UK growth slows less than thought in September - PMI data

* Cineworld drops to seven-month low on closing screens

* Weir jumps on selling oil & gas unit to Caterpillar

* FTSE 100 up 0.7%, FTSE 250 gains 1.1%
(Updates to close)

By Shashank Nayar

Oct 5 (Reuters) - London's FTSE 100 rose on Monday, lifted
by oil stocks as crude prices jumped after doctors treating U.S.
President Donald Trump for COVID-19 hinted that he was doing
well, while Cineworld fell sharply after it said it was
considering temporarily closing all U.S. and UK screens.

The blue-chip index rose for a third consecutive
session to hit its highest level since Sept. 18, led by gains in
oil majors BP and Royal Dutch Shell. The mid-cap
FTSE 250 index rose 1.1%.

"Investors are focusing on the broader picture right now
with sentiment turning slightly positive on anticipation of
fresh U.S. stimulus," said David Madden, an analyst at CMC
Markets. "However, traders will remain cautious until there is
more clarity on the U.S. presidential election."

Also aiding the mood, the final services sector data for
September showed Britain's economy proved more resilient than
initially thought despite a tightening of lockdown restrictions
and an end to a temporary government subsidy for businesses.

Shares of Cineworld slumped 36.2% after the world's
second-biggest cinema operator said it was considering
temporarily closing all its screens in the United States and
Britain after studios pulled major releases.

Engineering company Weir Group Plc gained 15.9%
after it said it had agreed to sell its oil and gas division to
U.S. heavy equipment maker Caterpillar Inc for $405
million in cash.

Shares of the telecom operator Vodafone rose 4.7%
after it said on Monday that it received concent for a security
package from its lenders, which was a requirement to complete
the merger of Indus Towers with Bharti Infratel.
(Reporting by Shashank Nayar in Bengaluru; Editing by
Subhranshu Sahu and Gareth Jones)

Related Shares

More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, par...

7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating th...

31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.