FTSE Falls Back To Flat On The Year

Shell slid 1.7% to £22.79 and BP retreated 1.1% to 469.7p.

The FTSE 100 was resilient despite the oil majors being among the largest in terms of market cap on the index, which closed 0.3% higher at 7,234.


US equities remained steady on Thursday with the S&P 500 advancing 0.2% to 2,705 around 4:45pm UK time.


Shares in Indivior (INDV) slumped 7.4% after falling from an operating profit to a loss of $115m in the fourth quarter of 2017 due to pre-launch costs for its SUBLOCADE and RBP-7000 products.

ConvaTec (CTEC) beat lower full year sales expectations, helping to overshadow ongoing supply issues and pushing its shares 7.3% higher to 212.2p.

Engineer GKN (GKN) urged shareholders to resist the hostile takeover by Melrose (MRO), arguing the attempt is opportunistic.

RELX (REL) was flat at £14.66 despite solid 2017 results. The company also announced it was ditching its dual share structure for a single PLC share listed in Amsterdam and London.

Insurer Lancashire (LRE) revealed 2018 will be another challenging year after falling into the red. Pre-tax losses hit £72.9m in the year to 31 December, down from a pre-tax profit of £150.4m in 2016. The stock declined 8.9% to 595.5p.


Oxford BioMedica (OXB) announced a new collaboration for its haemophilia treatments with Bioverativ, helping the shares rally 11.7% to 12p.

On AIM, electronics engineer Stadium (SDM) recommended a £45.8m takeover from TT Electronics (TTG), prompting the shares to soar 43.2% to 119.6p.

Story provided by StockMarketWire.com

Source : http://www.stockmarketwire.com/article/5858133/Oil-price-fall-fails-to-topple-FTSE.html

Oil price fall fails to topple FTSE
The Brexit effect: UK economy grows at 5-year low in 2017
Last Week in the City (February 19 to 23, 2018)
FTSE shrugs off rate fears on strong US inflation
FTSE 100 retreats with BAT and BAE in the red; UK economic growth revised down
Megan Barry’s words fall flat: Letters to the editor, Feb. 16
US reversal puts Europe on the back foot
HP earnings: Shift to premium PCs expected to pay off
Top Gold Producers' Mine Supply To Fall Right When Potential Investment Demand To Surge
FTSE CLOSE: Rolls Royce roaring on the back of results boost; stocks fall on Chinese growth fears