FTSE 100 movers: BP and Wood Group rally as oil recovers
London’s FTSE 100 was up 2.3% in afternoon trade on Friday at 6,738.67, having taken its cue from a late rally on Wall Street.
Wood Group and BP were on the front foot as oil prices rose, with West Texas Intermediate up 1.6% at $45.35 a barrel and Brent crude 0.6% higher at $52.45, bouncing back from losses the day before ahead of crude oil stocks change data from the Energy Information Administration at 1600 GMT.
Miners were also in the green, with Antofagasta and Glencore both trading higher.
Lukman Otunuga, research analyst at FXTM, said: "The final trading week of 2018 has been explosively volatile and wildly unpredictable due to geopolitical risks.
"Global sentiment repeatedly swung from extremely bearish to bullish this week as investors tussled with concerns over slowing global growth, US-China trade developments, Brexit-related uncertainty and a partial US government shutdown. Although US stock markets bounced back to life yesterday to end positive and Asian shares traded mostly higher this morning, it is certainly too early for any celebrations.
"With investor appetite for riskier assets seen diminishing amid the unfavourable market conditions, global equity markets remain vulnerable to downside shocks."
FTSE 100 - Risers
British American Tobacco (BATS) 2,590.00p 5.18%
Wood Group (John) (WG.) 512.60p 4.74%
Antofagasta (ANTO) 790.40p 4.14%
Hiscox Limited (DI) (HSX) 1,608.00p 4.01%
CRH (CRH) 2,086.00p 3.88%
BP (BP.) 504.20p 3.78%
Evraz (EVR) 485.20p 3.74%
Centrica (CNA) 134.60p 3.54%
Legal & General Group (LGEN) 231.60p 3.53%
Glencore (GLEN) 291.70p 3.38%
FTSE 100 - Fallers
GVC Holdings (GVC) 664.50p -1.92%
Next (NXT) 4,025.00p 0.15%
SEGRO (SGRO) 586.20p 0.17%
Shire Plc (SHP) 4,544.00p 0.18%
Rightmove (RMV) 428.20p 0.22%
Fresnillo (FRES) 869.20p 0.23%
Berkeley Group Holdings (The) (BKG) 3,373.00p 0.54%
Morrison (Wm) Supermarkets (MRW) 215.80p 0.56%
Randgold Resources Ltd. (RRS) 6,700.00p 0.60%
Diageo (DGE) 2,786.50p 0.74%