U.K. stocks rose on Monday as a surge in crude prices boosted energy stocks.
The benchmark FTSE 100 was up 27 points, or 0.4 percent, at 7,078 after declining 0.4 percent on Friday.
BP Plc rallied 3 percent and Royal Dutch Shell added 3.3 percent as Brent futures headed for $80 per barrel on supply concerns and amid optimism over rising demand.
IWG shares jumped nearly 7 percent after reports that the office rental firm is considering splitting into several different companies.
Petrofac soared 21 percent. The oilfield services company said it reached a plea agreement with the U.K. Serious Fraud Office in relation to its investigation into the company’s failure to prevent bribery.
Rolls Royce Holdings climbed 7.1 percent after the aerospace company was selected to provide the powerplant for the B-52 Stratofortress under the Commercial Engine Replacement Program.
Hikma Pharmaceuticals advanced 1.3 percent after it announced an agreement to buy Custopharm Inc. from Water Street Healthcare Partners.
Market Analysis
FTSE 100 Rises As Brent Oil Nears $80 A Barrel
2021-09-27 09:38:04
