Share Prices & Company Research

Market News

21 Nov 2018 | 12:03

Stronger oil prices drive FTSE 100 higher

Rising oil prices boosted oil majors BP and Royal Dutch Shell, helping the FTSE 100 trade 0.7% higher at 6,994 around midday.

Brent crude oil climbed 1.5% to $63.49 per barrel.

Shares in BP added 1% to 524.4p and Royal Dutch Shell advanced 1.1% to £24.21.

Gains in miners and utility stocks also supported the blue-chip index.

MID AND LARGE CAP RISERS AND FALLERS

Shares in opioid addiction specialist Indivior hit at an all-time low at 95.5p after an injunction against Dr Reddy's Laboratories failed, allowing the company to proceed with a launch of a generic product.

A strong set of half year results from chemicals business Johnson Matthey led to speculation annual profits will hit the top end of the company's guidance. Shares in Johnson Matthey gained 9.8% to £30.49.

A warning over lower margins in the short term from accounting software specialist Sage pushed the stock 3.2% lower to 519.2p. The company said blamed the anticipated lower margins on its shift to a subscription, cloud-based model.

Outsourcer Babcock shed 5.5% to 561.4p following unexpected provisions and a negative outlook for its nuclear business in its latest half year results.

Pub operator Marston's revealed a rise in underlying sales and profits in the year to 29 September, helping the shares gain 1.1% to 99.6p.

B&Q owner Kingfisher fell 2.3% to 240.6p following disappointing sales in the UK and France.

SMALL CAP RISERS AND FALLERS

A sales and earnings warning from Maintel wiped off nearly a quarter of its market cap, leaving the share price at 475p.

Story provided by StockMarketWire.com
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