Blue-chip shares fell back today after yesterday's strong rally as positive job data from America added to fears that the US Federal Reserve may soon start to taper off its support for the world's biggest economy.
New Bank of England governor Mark Carney sparked a shares surge today as policymakers hinted that low interest rates would continue for the foreseeable future.
Shares in Petrofac dipped 4.8% this morning before rallying slightly, after the company reiterated it expected 'modest growth' with net profit weighted towards the second half of the year.
Saipem's share price crashed yesterday after Europe's biggest oil industry service group gave its second major profit warning in less than six months amid problems with contracts in Algeria, Mexico and Canada.
British day-ahead gas prices have dropped to their lowest level since last October as summer weather curbed demand ahead of an export pipeline to Europe being closed.
Oil and gas operator Parkmead Group said yesterday it remained confident of acquiring Lochard Energy despite dissent among some shareholders in the smaller firm.
Brent crude rose further above $103 a barrel today after strong jobs news from the USA, a drop in the country's oil stocks and lower Iranian exports outweighed worries that the U. Federal Reserve may scale back its economic stimulus programme.
Blue-chip shares suffered further heavy losses today amid volatile trading but the FTSE 100 Index still managed to notch up its 12 month of gains in a row.
The FTSE 100 Index climbed 29.8 points to 6,657 today as investors bet the US Federal Reserve would continue its vast quantitative easing programme after fresh signs of economic softness.