Markets: FTSE 100 lifted by Rolls Royce and oil price surge – CityAM : CityAM

The capital’s premiere FTSE index has been lifted by 0.3 per cent this morning, reaching a high of 7,122.09 points, after oil prices soared.

Rolls Royce Holdings led gains climbing by 6.91 per cent after winning a contract from the US Air Force.

Brent crude was trading at close to $79 a barrel, helping shares in BP and Royal Dutch Shell to rally by more than two per cent. BP shares jumped by 2.37 despite ongoing fuel shortages after the government loosened competition laws to allow firms to collaborate on easing the crisis.

On the other end of the spectrum the British healthcare company Halma shed 2.73 per cent making it the blue chip index’s worst performer.

FTSE 250

London’s mid cap index saw a modest rise of 0.15 per cent, climbing to 23,644.18 points as tech companies dragged the index.

Movie theatre chain Cineworld jumped by 8.92 per cent amid hopes that the delayed release of the latest James Bond film will boost interest.

Blockchain analytics company Darktrace led losses with a dip of 5.89 per cent while Auction Technology, IMI and Softcat all dipped by more than two per cent.

Read more: Markets today: Fed tilts towards a taper, Bank of England up next