FTSE 100 Overview: Diageo Soars Amid Declining BP and Brent Crude Prices
FTSE 100 Highlights: Diageo's Surge
The FTSE 100 index experienced a notable increase as Diageo rose 4% to 2596p ahead of its AGM. The positive sentiment in the market has been bolstered by China's stimulus measures, enhancing the demand outlook.
BP and Brent Crude Under Pressure
Conversely, BP shares dropped 4% to 383.5p, reaching a two-year low, driven by a more than 2% decrease in Brent Crude prices, now at $71.74 a barrel. Market speculations suggest a shift in Saudi Arabia's pricing strategy.
Market Sentiment Boosted by Asian Gains
- FTSE 100 Index: Rose 36.18 points to 8304.88.
- Brent Crude: Fell to $71.74 a barrel, affecting oil stocks like BP and Shell.
- Positive movements from Prudential up 6% reflecting gains from China’s stimuli.
Corporate Updates
Mitchells & Butlers reported a slower growth of 2.5% in the fourth quarter but saw shares rise despite sales challenges. Meanwhile, Videndum experienced an 18% drop following a downgrade in its full-year guidance.
For more updates on the latest market movements and financial insights, stay tuned.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.