FTSE up for second day as BP recovers

BP shares soared more than 3% in morning trading

FTSE rises for seventh day as BP promises to set up compensation fund

The FTSE 100 advanced 53.40 points, or 1 per cent, to 5,291.32 in early trading as stocks rose for a seventh day, with the FTSE 100 Index heading for its longest streak of gains since July 2009, after BP agreed to cancel its dividend and set up a $20 billion fund to compensate victims of the worst spill in US history.
FTSE edges up after BP boss grilling

The FTSE 100 was inching up on Friday morning in early trade as a resurgent BP again led the gains despite its chief executive officer facing seven hours of questioning on Capitol Hill over the Gulf oil spill.

Friday, 04 June 2010 12:44

By myfinances.co.uk staff

The FTSE 100 was marginally up on Friday morning in early trading as BP staged a mini-recovery over its latest attempt to plug a massive oil leak in the Gulf of Mexico.

By 09:22am London's leading shares index was up 41.68 points, or 0.80 per cent, to 5,252.86.

Leading the gains was BP, which soared 3.23 per cent after announcing a temporary cap on the leaking oil well in the Gulf.

Vodafone (2.61 per cent) and Cable and Wireless Worldwide (2.56 per cent) also enjoyed a boost in early trading.

Heading in the opposite direction however was Shire, which fell 0.61 per cent.

Liberty International (-0.50 per cent) and British Land (-0.47 per cent) were also among the falls.

FTSE up for second day as BP recovers

Comments

Twitter: My Finances

Browse our site by topic area

Comments

Twitter: My Finances

Newsletter sign up

Interests

Get the latest information on:

Browse our site by topic area