London’s FTSE was up 1.1% at 7,249.41 in afternoon trade on Monday.
Energy firms Harbour Energy, BP and Shell all gushed higher as oil prices rose amid supply concerns. AJ Bell investment director Russ Mould said: “Oil supplies have been watched closely in recent weeks amid concerns about a slowdown in the global economy.
“Fundamentally supplies continue to be tight and there is still enough economic activity to stop oil prices slumping. However, lingering recession fears could act as a ceiling on the oil price so we might not see the black stuff race ahead in value too much from current levels.”
Auto Trader was also in the black, with traders pointing to an upgrade to ‘buy’ at Peel Hunt.
FTSE 100 – Risers
Harbour Energy (HBR) 347.00p 4.33%
BP (BP.) 399.85p 3.99%
Shell (SHEL) 2,194.00p 3.44%
Glencore (GLEN) 439.25p 3.03%
Endeavour Mining (EDV) 1,687.00p 2.93%
Auto Trader Group (AUTO) 557.40p 2.80%
Hikma Pharmaceuticals (HIK) 1,663.00p 2.56%
BT Group (BT.A) 190.05p 2.54%
London Stock Exchange Group (LSEG) 7,734.00p 2.33%
Mondi (MNDI) 1,484.00p 1.96%
FTSE 100 – Fallers
Ocado Group (OCDO) 791.60p -2.75%
JD Sports Fashion (JD.) 114.85p -2.38%
Intermediate Capital Group (ICP) 1,294.50p -1.67%
International Consolidated Airlines Group SA (CDI) (IAG) 107.10p -1.60%
3i Group (III) 1,086.00p -1.45%
Dechra Pharmaceuticals (DPH) 3,460.00p -1.09%
Entain (ENT) 1,239.50p -1.04%
Coca-Cola HBC AG (CDI) (CCH) 1,846.00p -0.99%
Ashtead Group (AHT) 3,504.00p -0.93%
Scottish Mortgage Inv Trust (SMT) 722.80p -0.88%
