Energy stocks lift London's FTSE 100 as oil prices surge

  • Reuters
  • Stock Market News
Energy stocks lift London's FTSE 100 as oil prices surge
Credit: © Reuters.

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* FTSE 100 up 0.3%, FTSE 250 adds 0.1%

Feb 8 (Reuters) - London's FTSE 100 rose on Monday, as energy stocks tracked a jump in oil prices on hopes that global vaccine rollouts would quicken the economic recovery this year.

The commodity-heavy FTSE 100 .FTSE was up 0.3% by 0806 GMT, snapping a three-day losing streak. BP BP.L and Royal Dutch Shell RDSa.L were among the biggest boosts to the index after oil prices surpassed $60 a barrel on Monday. O/R

The mid-cap FTSE 250 index .FTMC added 0.1%, gaining for a sixth straight day.

Shares of British retailers .FTNMX5370 were subdued in early deals as a report said the government was planning to tax companies whose profits soared during the COVID-19 pandemic. RR.L shed 2.0% after the aero-engine maker said it was proposing a two-week operational shutdown of its civil aerospace unit over the summer.

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