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

Darius McDermott: The lessons from 2025 and opportunities ahead

Darius McDermott: The lessons from 2025 and opportunities ahead

'2025 has been a salutary lesson in the difficulty of timing markets'

Darius McDermott
clock 07 January 2026 • 5 min read
Trump, Modi and US-India trade tensions – who cares?

Trump, Modi and US-India trade tensions – who cares?

A bottom-up approach to finding hidden gems

Gabriel Sacks
clock 02 January 2026 • 4 min read
2026: Year of the racehorse or workhorse?

2026: Year of the racehorse or workhorse?

'Every year brings its challenges, and 2026 will be no exception'

Russell Andrews
clock 02 January 2026 • 4 min read