(MENAFN- ProactiveInvestors) A halt to the oil price slump helped London’s top share index recover from Friday’s heavy losses.
The FTSE 100 shed 2.5% of its value at the end of last week following weak economic data and the Brent crude price dipping below $61 per barrel.
But the price ticked up to $63 overnight which gave some support to most of London’s oil groups.
() was the top riser in percentage terms 3.2% higher to 379p. () climbed 18p to 837p and Shell () gained 21p to 2053p Oil services firms () and () were also near to top end of the index.
Overall the FTSE 100 was up 38 points to 6339 in mid-morning trading.
Even () made gains despite Capital Markets putting out a downgrade on the stock. Sky (LON:SKY) was the biggest faller down 1.5% to 889p. Shares in () lost 25p to 4125p as the price of gold fell to US$1210.
Mid-capper () jumped 11% after the floorings retailer reported a rise in half-year profits which doubled to £6.7mln. It also expects full-year profits to be at the upper end of forecasts.
Food retailer () climbed 5% higher as the firm upgraded its profit outlook for the second time in four months. Sales for bakery chain rose 5.2% in the 24 weeks to October.
AIM-listed () rose 30% to 3p as its latest well at its onshore Trinidad acreage flowed at more than 1000 barrels per day on test a new record for the Goudron field.
() was in demand as it announced its second sales deal of the month. The latest agreement is with a Chinese company and should see earn incremental revenues of between US$2.5mln and US$5mln.
() jumped 237% to 0.63p after a court in Mozambique confirmed subsidiary IM Minerals' status as shareholder in Companhia de Naburi (CMDN).
() was up 96% to 0.25p as it agreed non-binding terms with Paul Bell for the ongoing financing of the company.
Elsewhere MySale Group () lost 44% of its value as the online retailer said pre-tax profits will be below market expectations.
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