Improved crude and gasoline prices lifted oil companies stocks and with them the Footsie today. O...
Improved crude and gasoline prices lifted oil companies stocks and with them the Footsie today.
Overall the Footsie rose 11.7 points to 5916.2. The Techmark index climbed 18.03 points to 2056.23.
Shell, which owns 40% of Royal Dutch/Shell Group, rose 12p to 612. Royal Dutch, the second-largest publicly traded oil company, has offered to buy a share of US oil-refining joint ventures with Texaco Inc. which are part of an alliance that's the biggest US gasoline seller.
BP, the world's third largest publicly traded oil company, gained 11p to 625.5.
Other significant gains made on the Footsie were Axis-Shield, up 27.5p to 330, Anite Group Plc, up 14.5p to 165.5, and Turbo Genset Inc. up 28.5p to 507.5.
It has been a roller coaster ride for markets in the United States today. Earlier losses have been erased as Sun Microsystems Inc. and Exxon Mobil Corp also rose.
The Standard and Poor's 500 index advanced 2.99 to 1291.48, led by Sun Microsystems and Cisco Systems Inc.
The Dow Jones Industrial Average rose 17.44, or 0.2%, to 11,266.02.
The Nasdaq composite index rose 11.90, or 0.5%, to 2205.58.
Losses earlier today were led by Palm Inc., Dell Computer Corp. and Agilent Technologies Inc. gave sales forecasts that disappointed investors.
Palm fell $1.98 to $5.07 and was the most actively traded US stock. The biggest maker of electronic organisers said sales for the quarter will be about half already reduced forecasts.
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation