(MENAFN- ProactiveInvestors) London-listed oil firms kicked off the holiday-shortened week with gains as Brent crude rose above US$62 a barrel overnight.
After seeing a rebound on Friday many have been calling a bottom in oil prices and feel this is a beginning of a recovery according to Stan Shamu at .
The 1.6% price rise gave the commodity related stocks a boost with () Shell () and (LON.) at the top end of London’s equity gauge.
Traders are also taking comfort in last week’s Federal Reserve meeting where the US central bank promised to show patience when raising interest rates.
Overall the FTSE 100 was 56 points to the good and hovering around the 6600 mark.
Mining stocks were also providing a lift including () and ().
Randgold however bucked the trend down 110p to 4321p as spot gold dipped to US$1195 per ounce.
() added 4p to 327p as the firm announced it is selling off most of its struggling Chinese B&Q business to Wumei Holdings for £140mln.
In the AIM world ’s () latest well on the Sebou permit in Morocco has found the thickest layer of gas sands of the drilling campaign so far. Shares jumped 10% to 11p.
climbed 12% higher () after it said it has started to produce silver and gold from its Mina Charay joint venture in Mexico.
Two executive directors at REX Bionics () bought shares in the company last week. The shares were 13% higher today.
Shares in Fitbug () are carrying on their good run after the business unveiled new contracts last week from Amazon Best Buy.com and Target for its Fitbug Orb wearable device and coaching plan Kiqplan.
Tech group Tungsten Corp () gained 13% after it struck a financing deal expected to run into several billion pounds for its early payment invoice financing business - a key part of its future growth plan.
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