U.K. stocks edged higher on Tuesday as higher oil prices boosted energy stocks.
The benchmark FTSE 100 was up 20 points, or 0.3 percent, at 7,753.
BP Plc rose about 1 percent and Shell added half a percent as oil prices jumped nearly 2 percent on fears of supply disruption amid the attacks in the Red Sea region.
The risks of the Israel-Gaza conflict morphed into a wider regional conflict after U.S. helicopters repelled an attack on Sunday by Iran-backed Houthi militants on a Maersk container vessel in the Red Sea.
ANGLE, the liquid-biopsy company, added 1.5 percent after signing a contract with Eisai.
Oil and gas engineering services business Plexus Holdings gained 1.7 percent.
The company said its existing surface production wellhead license agreement with SLB, an oilfield services company, has been replaced by a new agreement with wider field of use for a consideration of $5.2 million to be paid in cash.
Market Analysis
FTSE 100 Gains As Oil Prices Jump On Fears Of Supply Disruption
2024-01-02 09:21:28
