FTSE 100 movers: oil majors rally; JD Sports in the red

by | Dec 19, 2022

London’s FTSE 100 was up 0.5% at 7,367.07 in afternoon trade on Monday.

Oil giants BP and Shell rallied as oil prices rose.

CMC Markets analyst Michael Hewson said: “Crude oil prices are getting a slight bid as the US starts to take steps to refill its strategic petroleum reserves, which have been run down in the last few months in an attempt to keep a lid on energy prices. A pledge by China to support the economy in the wake of rising covid cases is also helping on the margins.”

On the downside, JD Sports lost ground after announcing late on Friday that it had sold its interests in a number of fashion brands to Frasers Group for up to £47.5m.

Broker Shore Capital said: “The divestment to Frasers may raise an eyebrow or two given the characters behind the development of these two groups, namely Peter Cowgill and Mike Ashley. However, from the surface this looks like sensible activity by JD’s new chief executive officer Regis Schultz centred upon focus and simplification.”

FTSE 100 – Risers

Fresnillo (FRES) 892.00p 4.40%
BP (BP.) 467.40p 2.64%
Shell (SHEL) 2,297.00p 2.41%
Melrose Industries (MRO) 126.90p 2.30%
Weir Group (WEIR) 1,679.00p 2.10%
Airtel Africa (AAF) 112.20p 2.09%
Beazley (BEZ) 648.00p 2.05%
Smith (DS) (SMDS) 317.60p 1.89%
M&G (MNG) 183.35p 1.80%
Coca-Cola HBC AG (CDI) (CCH) 1,969.50p 1.73%

FTSE 100 – Fallers

London Stock Exchange Group (LSEG) 7,158.00p -2.48%
JD Sports Fashion (JD.) 115.40p -2.29%
Auto Trader Group (AUTO) 524.40p -1.87%
Next (NXT) 5,540.00p -1.53%
Rightmove (RMV) 524.20p -1.32%
Croda International (CRDA) 6,638.00p -1.10%
Berkeley Group Holdings (The) (BKG) 3,763.00p -0.92%
Pershing Square Holdings Ltd NPV (PSH) 2,835.00p -0.87%
Rentokil Initial (RTO) 513.40p -0.85%
Experian (EXPN) 2,835.00p -0.84%

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