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

  • 2/8/2021
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(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * 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 was up 0.3% by 0806 GMT, snapping a three-day losing streak. BP and Royal Dutch Shell were among the biggest boosts to the index after oil prices surpassed $60 a barrel on Monday. The mid-cap FTSE 250 index added 0.1%, gaining for a sixth straight day. Shares of British retailers were subdued in early deals as a report said the government was planning to tax companies whose profits soared during the COVID-19 pandemic. Rolls-Royce 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. (Reporting by Amal S in Bengaluru; editing by Uttaresh.V)

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