FTSE 100 index opens up as oil prices hold steady

James Nickerson
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FILE PHOTO - BP Oil Posts Record Profit
BP rose as commodity prices stabilised (Source: Getty)

The FTSE 100 index opened 0.75 per cent up this morning at 6,080 points, after a boost from oil prices, which recovered slightly.

As oil prices rose, BP, Royal Dutch Shell and BG Group were all embedded at the top of the FTSE 100, while miners continued to make gains as commodities rebounded just in time for Christmas.

BP was up 1.8 per cent to 341.2p per share, while BG Group rose 2.97 per cent to 926.65p per share and Royal Dutch Shell rose less sharply, by 1.34 per cent, to 1,471p per share.

Read more: FTSE 100 closes up despite gains by miners, ITV

Standard Life, a big investor in both Shell and BG, rose 0.92 per cent to 382.45p per share.

Anglo American and Antofagasta rose 1.7 per cent to 285p per share, and 0.73 per cent to 428.35p per share. Glencore was also 1.29 per cent up at 84.07p per share.

Rio Tinto also rose 0.91 per cent to 1,879.5p per share, and Fresnillo's share price rose 0.89 per cent to 677.5p and BHP rose 0.77 per cent to 721.7p per share.

Read more: Standard Chartered share price rises on news of board changes

Meanwhile, Standard Chartered was also among the risers, up 1.95 per cent to 559.75p per share after yesterday revealing a number of changes to its board of directors, including departures of two of its longest-standing members.

Among all the good news, however, chief market analyst at CMC Markets Michael Hewson said: "European markets... still remain well below the levels that we saw at the beginning of the month which means any prospect of a Santa rally at this point is about as likely as getting a white Christmas."

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