(MENAFN- ProactiveInvestors) Holding steady just above 6500 at lunch on Monday the FTSE 100 shrugged off crude oil latest leg down.
Energy companies and oil service engineers suffered again as Brent crude plunged back below US$50 per barrel but the prospect of increasingly cheap fuel continues to prop up travel and consumer focussed stocks.
Cruise holiday operator () and BA owner International Consolidated Airlines () were among the day’s best risers as was chip-maker ().
() was Monday’s top FTSE stock with a 2.7% gain after upgraded its view on the aerospace engineering firm.
Losing 3.5% per share oil services firm Weir () fell furthest followed by utilities firm SSE () and miners Antofagasta () and ().
() Shell () and () dropped between 2% and 0.9%.
() was the hardest hit in the oil and gas sector as performance problems at an oilfield in the Kurdistan region of Iraq have caused nearly 200mln barrels of reserves to be struck off and about 1bn barrels of resources to be cancelled.
Shares in the oil firm fell 20% on Monday morning
Elsewhere white goods firm AO World () was up 7.5% at 265p as it reported strong Christmas sales and confirmed it is on course to meet full year targets is leading gains.
The troubled insurance outsourcer Quindell () shot up by 26% as it announced the appointment of two experienced and well regarded independent directors.
Shares in AIM-listed low-cost airline () added 22% as it posted its first underlying monthly profit and carried its millionth passenger.
Wood chip firm Group () also added more than 20% as it secured two significant high-volume supply contracts for 2015.
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