Oil exploration firms today ally markets in the UK, reversing yesterday's fortunes, as stocks such as BHP Billiton and Shell Transport and Trading are buoyed by analysts interest in an ‘attractive' sector.
The FTSE 100 index has broken its losing streak and added around 30 points to 5073.9, with Shell Transport and Trading profiting 11.75p to 539.75p, as oil continues to trade above $60 per barrel in New York and Shell is today expected to be separated from the dual ownership structure which currently prevents takeovers. BHP Billiton has also added 15p to 719.5p, along with steelmaker Rio Tinto, which is up 28p to £17.04, after a Chinese report indicated steel exports slowed for a fourth month. Antofagasta also picked up 16p to £12.06. On the losing end, Imperial Tobacco Group has shed...
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