Rise in metal and oil prices helps Footsie

Market report Perry Gourley

Commodity stocks were on the rise, with a rebound in metal and oil prices lifting crude producers and Uk-listed miners.

It helped push the FTSE 100 up 14.27 points, to 7,577.49 points. The blue chip index was led by the likes of

Antofagasta up 28.6p at 833.6p, Glencore up 10.25p at 320.75p, Anglo American up 39p at 1,575p, and Fresnillo up 23p at 947.2p.

David Madden, a market analyst at CMC Markets UK, said: “Metals have had a rough ride this week, as dealers feel the trade dispute between the US and China will have a greater negative impact on the Chinese economy. China’s economy has been growing at a more moderate rate in recent years and its appetite for minerals has been waning”.

Oil giants were also among the biggest risers,

with BP up 6.2p at 563.7p and Royal Dutch Shell’s ‘B’ shares up 26.5p at 2,614p.

It comes amid a 2 per cent jump in the price of Brent crude. Petrofac shares rose 1.4p to 658p despite warning that it would take a £43 million hit on the sale of its shares in a project in the North Sea.

The energy firm said on Friday that it would offload its 20 per cent stake in the Greater Stella area development and its 25 per cent interest in the FPF1 floating rig, both in the North Sea.

Air Partner slumped 2p to 111p as a competitive process to appoint new auditors got underway, following the private jet firm’s discovery of a £3.3m accounting error earlier this year. Its interim review of the financial results will continue to be undertaken by Deloitte, which was the auditor in charge when the error occurred.