Crude rally lifts FTSE 100 ahead of latest US earnings updates
Source - SMW
The FTSE 100 was up 0.3% to 7,483.27 by midday lifted by index heavyweights BP and Royal Dutch Shell which both saw their shares surge on higher oil prices linked to Iranian sanctions.
US futures suggested a pretty flat open on Wall Street ahead of earnings reports from eBay, Twitter, Snap and Verizon.
LARGE AND MID CAP RISERS AND FALLERS
Thomas Cook jumped 16% after a media report said potential takeover bidders were circling the travel company.
British Land shed 1.3% after it exchanged contracts to sell 12 supermarkets from its joint venture with Sainsbury's for £429m to Realty Income Corporation.
Miner and commodities trader Ferrexpo lost 0.2% after it booked a fall in annual profits, as pellet sales were constrained by reduced shipments towards the end of the year.
SMALL CAP RISERS AND FALLERS
Scottish broadcaster STV Group dropped 1.9%, as it guided for a modest rise in first-quarter advertising revenue of between 1% and 2%.
Keywords Studios rose 3.2% on news that it had acquired mobile device games developer Wizcorp for JPY 120m (£825k) from Ankama and Silicon Studio Corporation.
Martin Sorrell-backed S4 Capital disputed a media report that stated that its MediaMonks unit was facing a legal battle in Holland.
The matter was a dispute between former shareholders of MediaMonks and any involvement of S4 Capital would only be as a witness, the company added. Its shares reversed 0.9%.
Out-of-hospital services provider Totally surrendered earlier gains to trade flat after its subsidiary Vocare won a contract with the NHS Newcastle & Gateshead Clinical Commissioning Group worth up to around £13.5m.
Low-cost African airline Fastjet gained 5.1% as its losses narrowed in the fourth quarter thanks to cost cutting.
Upland Resources jumped 4.5% on announcing that it had been approached by oil companies interested in investing in its Saouaf prospect in Tunisia.