Oil stocks boost FTSE 100 as China data signals recovery | Malay Mail

📆 8/11/2020 6:10 AM
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LONDON, Aug 11 ― London-listed shares ended off session highs yesterday as the number of Covid-19 cases in Britain surged, while hopes of more global stimulus and some upbeat data kept alive expectations of an economic rebound. After gaining as much as 1.2 per cent, the commodity-heavy FTSE 100...

After gaining as much as 1.2 per cent, the commodity-heavy FTSE 100 closed up 0.3 per cent, with BP Plc and Royal Dutch Shell Plc among the biggest boosts. — Reuters pic

Oil prices rose on an improvement in Chinese factory data, hopes for more coronavirus-related stimulus from the United States, and as Saudi Aramco forecast rising energy demand. Focus was on US stimulus after President Donald Trump signed executive orders on Saturday partly restoring enhanced unemployment payments.

A clutch of data will be eyed this week, including the unemployment rate and June gross domestic product figures.

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Oil stocks boost FTSE 100 as China data signals recovery | Malay MailAUG 10 — London-listed shares rose today as a slowdown in China’s factory deflation in July brewed optimism around a post-pandemic economic rebound, while energy stocks tracked a jump in oil prices. The commodity-heavy FTSE 100 was up 0.8 per cent, with BP Plc and Royal Dutch Shell Plc the...
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