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Energy shares bolster FTSE 100 | Energy shares bolster FTSE 100 |
(about 2 hours later) | |
Energy shares helped to strengthen the London market on Tuesday morning as oil prices stabilised. | |
After touching 11-year lows of just above $36 a barrel on Monday, Brent crude recovered to $36.52 a barrel. | |
Among energy-related stocks, BG Group was one of the biggest risers in the FTSE 100, climbing 2.4%, while oil giant BP gained 1.8%. | |
Shortly before midday, the benchmark FTSE 100 was up 34.27 points, or 0.6%, at 6,069.11. | |
Shares in ITV fell 1.8% after US firm Comcast denied it was interested in bidding for the UK broadcaster. ITV's shares had jumped 4% on Monday on reports Comcast was eyeing the firm. | |
Shares of retailers came under pressure on worries over the strength of festive sales. Marks and Spencer dropped 1.5% and Next slipped 0.2% after Nomura cut its price targets for both companies. | |
On the currency markets, the pound slipped 0.1% against the dollar to $1.4872, and fell 0.4% against the euro to €1.3587. |