The London equities market started with a bang this morning as the leading FTSE 100 index gained more...
Some market watchers said on Friday that the FTSE was approaching a key support level, which, once breached, could push shares higher much faster.
That seems to be the case today, as gainers number 82 compared to the 15 stocks suffering share price drops.
Support has grown also, however, due to the news that two of the world's top 20 oil companies are to combine to form the 5th largest group, covering businesses from exploration through refining to retailing of oil and gas products.
Consolidation is seen as a way to prop up the low oil price, which Opec failed to do last week.
BP is up 15.5p to 518.5p, Shell is up 9p to 486p.
Among the notable falls was BT's 21% drop to 280p, reflecting the first day of trading in separate shares of the now demerged mmO2 wireless company and Future BT, the remaining fixed line business.
BA is down more than 10% to 309.5p as the stock gives up some of last week's strong gains to profit takers.
Utilities companies are being pounded this morning - both Severn Trent and United Utilities are down, 5.5p to 744.5p and 12p to 612p respectively.
Otherwise there is no single sector bearing the brunt of investor displeasure.
Earlier today Hong Kong's Hang Seng index closed up 51.52 points at 11,338.89, while Tokyo's Nikkei closed up 78.85 points at 10,727.94.
On Friday night, the Dow Jones Industrial Average closed in New York up 5.4 points at 9,866.9, as Nasdaq shed 1.99 points to end the week at 1,898.58.
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