Proposed OPEC adjustment lowers FTSE

clock

Trading on the London Stock Exchange has been hit for the first time in a while by oil trading this morning, after OPEC announced it was cutting production.

The FTSE 100 index is currently down 5 points to just over 4400, at 4401, with BP leading the gains, while the FTSE All-Share index is also down 2 points to 2202. BP saw its share value rise 8p or 1.8% to 453p after Saudi Arabia announced OPEC – the Organization of Petroleum Exporting Countries – will cut output targets to maintain the price of oil which in turn helped to keep the oil price over $31.80. Its rival, Shell, also gained just 0.75 penny, or 0.2% to 364.5p. Severn Trent, the water services company, climbed 4.5p or 0.6% to 750p after a ratings upgrade by Morgan Stanley. ...

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

FIF25: House of Lords member calls for stronger international economic cooperation

FIF25: House of Lords member calls for stronger international economic cooperation

Economics often a driver of geopolitical instability

Sorin Dojan
clock 04 June 2025 • 2 min read
Woodford sets date for portfolio platform launch

Woodford sets date for portfolio platform launch

W4.0 will launch on Friday 6 June

Cristian Angeloni
clock 03 June 2025 • 1 min read
FCA seeks feedback on stablecoin and crypto policy proposals

FCA seeks feedback on stablecoin and crypto policy proposals

Feedback deadline set at 31 July

Patrick Brusnahan
clock 29 May 2025 • 1 min read