BP gives FTSE a happy start to New Year

clock

The FTSE 100 is starting the new year well with a rise of 51.5 points, or 0.92%, to 5,670.3, as natural resources stocks such as BP have started strongly as the gas supply dispute between Russia and Ukraine drives fuel prices higher.

BP has added 9p, or 1.45%, to 628p, while Shell has gained 31p, or 1.75%, to 1,802p, as dealers said Russia's gas supply cut to Ukraine would support the sector by driving oil and gas prices higher in the short term. Gas and oil producer BG Group has also added 16.5p, or 2.87%, to 591p, while mining stocks added to the gains by tracking a strong performance in Australia. BHP Billiton, the world's biggest miner, has advanced 17p, or 1.79%, to 966.5p, while Rio Tinto has jumped 44p, or 1.66%, to 2,699p. Xstrata is also featuring high on the list of FTSE gainers, with a jump of 45p, or 3...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Quality investing: Holding conviction when markets test investors

Quality investing: Holding conviction when markets test investors

Quality investors have no doubt had their conviction 'severely tested' of late

Scott Spencer
clock 31 March 2026 • 5 min read
Darius McDermott: The five-year laggards - can they revive?

Darius McDermott: The five-year laggards - can they revive?

'It's a complex backdrop for investors'

Darius McDermott
clock 31 March 2026 • 6 min read
Protecting portfolios during heightened inflation risk

Protecting portfolios during heightened inflation risk

'This is a year for careful, defensive positioning'

Fahad Hassan
clock 30 March 2026 • 3 min read