Oil price rise pro­vides thrust for FTSE 100

The Courier & Advertiser (Perth and Perthshire Edition) - - BUSINESS -

Top-flight stocks in Lon­don were boosted by ris­ing oil prices in yesterday’s trad­ing, but ob­servers said a re­cov­ery could not make up for the “dread­ful” week on the mar­kets.

The FTSE 100 was up 74 points, or 1.1%, at 6,778.11, re­gain­ing only some of what it lost on Thurs­day when £56 bil­lion was wiped amid fears that the ar­rest of a se­nior Huawei of­fi­cial in Canada could reignite ten­sion be­tween the US and China.

The FTSE 100 was also given a boost by oil prices af­ter a closely watched Opec meet­ing in Vienna con­cluded with a plan to cut pro­duc­tion by 1.2 mil­lion bar­rels a day.

Mean­while, the pound was down 0.44% at 1.272 US dol­lars and down 0.51% ver­sus the euro at 1.176.

The big­gest ris­ers on the FTSE 100 were Wood Group up 26.6p to 628p and Evraz up 17.8p to 481.6p.

The big­gest fall­ers were As­so­ci­ated Bri­tish Foods down 108p to 2,242p and GVC Hold­ings down 13p to 669p.

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