Stocks rally on oil price recovery

London Stock ExchangeWed: Stocks in London rallied after a recovery in oil prices and data showing an improvement in Chinese inflation.

Commodities were higher with rises of between 1.5% and 4.6% in metals and energy groups.

The FTSE 100 index was 0.1% weaker at 6,126.68 points after falling to 6,101.22 points earlier in the day.

Pearson was under pressure after a broker cut its price target on the stock to 770p from 950p.

Stagecoach plunged 14.4% as it said the Paris terror attacks in November has discouraged people from travelling and led the company to slightly revise full year earnings downwards.

FirstGroup rose after the company said it would continue to operate the TransPennine franchise until at least 2023.

Entertainment One gained as it confirmed that the company continues to trade in line with full year underlying earnings expectations, as it responded to recent weakness in its share price. The stock has been under pressure since the company announced a refinancing deal that will increase its interest payments.


Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.