UK- FTSE100 finishes higher with Greece and BP in the mix


(MENAFN- ProactiveInvestors)Oil titan BP (LON:BP.) helped Footsie to a positive finish. The UK benchmark closed over 21 points to the good at 6630 with BP top dog  with its shares adding 4.69% to 438.80p. UK investors took heart from upbeat British construction figures to propel FTSE100 shares higher on Thursday. The building industry expanded sharply in June to a four month high according to the latest purchasing managers index from the Chartered Institute of Purchasing & Supply. Howard Archer at IHS Global Insight said: 'It boosts hopes and belief that the construction output returned to growth in the second quarter and contributed to improved GDP growth.' The news helped dealers to shrug off continued uncertainty over the outcome of the Greek debt crisis. Meanwhile BP was lifted as uncertainty was removed as it reached a £12bn (or US$18.7bn) settlement over the disastrous 2010 Gulf of Mexico oil spill. The agreed sum to be spread over 18 years is with the US Department of Justice and is reportedly the largest amount paid by a single company in US history. BP said costs associated with the spill have already topped US$43bn. Bob Dudley BP's group chief executive told investors: "This is a realistic outcome which provides clarity and certainty for all parties." In macro matters - namely Greece  Eurogroup of Eurozone finance ministers ruled out more talks with Greece over a debt deal until after the country's referendum on Sunday. Greeks will vote on whether to accept the terms that the country's creditors have proposed in return for more cash aid. The left-wing government in Athens has urged voters to reject the proposals denying that it would result in the country having to leave the Eurozone. Meanwhile in the US which is closed tomorrow stocks were faring fairly badly as non-farm payroll figures failed to impress. The Dow jones is down 57 while the S&P 500  lost five points to stand at 2072. Drug companies were doing well with AstraZeneca (LON:AZN) gaining 1.69% to 4190p and Shire (LON:SHP) advancing 1.06% to 5265p. House builders subsided early on but then seemed to make gains after building society Nationwide said house prices dipped 0.2% in June causing the year-on-year gain to slow sharply to a two-year low of 3.3%. Worries about coal prices hit miner Hargreaves Services (LON:HSP) which slumped 7.05% to 323.25p. Oil services group Hunting (LON:HTG) leaked 4.67% to 572p as falling oil prices hit oil & gas industry investment. Strategic Minerals softened over 14% to 0.45p on news of a tough 2014 for the US and New Zealand miner although it said it was on the look-out for small acquisitions. Kefi shares were unchanged today at 0.85p as it emerged Jeff Rayner Kefi Minerals' (LON:KEFI) exploration director has bought one million shares in the gold explorer at around 0.845p each. It takes his stake to 0.84% or 14.68mln shares not including options. UK Oil & Gas (LON:UKOG) added 19.14% to 2.09p. Earlier this week it said it had struck a deal with Egdon Resources (LON:EDR) to acquire a 20% stake in the Holmwood project in the Weald basin in the south east of England. Motive Television (LON:MTV) up 11.11% to 0.01p as it said it had added a record feature to its over-the-top television app TabletTV which allows its users to schedule to record programmes a week in advance.


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