The FTSE 100 index has closed the day up on the back of a rising oil price and the prospect of problems with supply and distribution from US refineries if Hurricane Rita hits land.
It is actually the oil firms such as Royal Dutch Shell – which closed up 0.9% to £18.53 - which have driven trading as a higher oil price means potentially higher profits, and helped the FTSE 100 index to finish the day 16 points or 0.3% up at 5385.7.
Cairn Energy also rose 33p or 1.7% to £20.18 as an analyst has raised share price expectations from £22.40 to £24.00 a share, given its position in oil exploration.
With the current oil spot price for November delivery rising a further 2% to $68.14 a barrel, British Airways fell 5.25p or 1.8% by the end of the day to 283.5p as a higher oil price again affects its profit potential.
Imperial Chemical also dropped 5p or 1.7% to 288.25p.
However, Old Mutual closed the day up 3.75p or 2.8% at 137.75p after Business Day newspaper reported Skandia may ask its shareholder to decide whether the Swedish life insurance group should be taken over by the South African insurer.
In the US, all three main indices are down as a result of worries about the impact this latest hurricane could have on if it lands on Saturday in the US.
The Dow Jones is hovering close to its starting position, haven fallen almost 4 points to 10,374 while the Nasdaq Composite index is also 5.5 points or 0.26% to 2,101 and the S&P 500 index has lost 2 points or 0.18% 1,208.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Julie Henderson on 020 7968 4571 or email [email protected].IFAonline
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