Oil and its impact on prices is still the dominant factor again this morning, as concerns about fuel surcharges hit British Airways' price again.
The FTSE 100 index is currently up 0.4% to 5335.5 points thanks largely to gains for South African insurer Old Mutual Plc while the FTSE All-Share index is up 9.7 points or 0.4% to 2150.6 and the FTSE 250 index has gained 18.8 points or 0.3% to 5853.2.
British Airways is currently down 5.5p or 2.7% to 200p after oil prices hit another record high yesterday.
That said, life insurer Old Mutual has gained 1.25p or 1.3% to 100p.
In Asia, the Japanese markets closed the day up on the back of growing debt.Despite the feedback in recent months concerning the debt liabilities of banks, the credit companies were today in favour on the prospect of higher profits – prompted by tightening economic pressure on consumers.
Aiful, Japan's largest consumer finance company by sales, gained 4.6% to Yen10,200 yen while Promise, Japan’s fourth-largest consumer finance company, added 3.2% to Yen6,870 and Takefuji, Japan's third-biggest consumer lender, rose 2.5% to Yen7,665.
This lifted the Nikkei 225 index 0.4% to 10,953.5 by the 3pm close while the Topix index gained 0.3% to 1105.
In the other direction, the Singapore Straits Times index made a late reaction to Friday’s US consumer confidence news by making the biggest drop of the day and sliding 1.1% to 1899.
And in the US yesterday, markets closed almost flat, as prices remained mixed on the back of fluctuating oil futures.
The Dow Jones eventually closed down a fraction at 9,814.6 while the Nasdaq Composite index dropped 2.25 points or 0.13% to 1,774 and the S&P 500 index gained 1.25 points or 0.12% to 1,065.IFAonline
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