Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BP surge lifts FTSE 100 to 11-month high; Centrica slumps

BP surge lifts FTSE 100 to 11-month high; Centrica slumps
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls -
Euronews logo
Text size Aa Aa

(Reuters) – A surge in oil major BP offset steep losses in consumer goods giant Reckitt Benckiser and energy utility Centrica and lifted London’s FTSE 100 to a fresh 11-month high on Tuesday.

The main index <.FTSE> added 0.2%, with BP <BP.L> providing the biggest boost to the index after the company’s second-quarter profit topped estimates. The mid-cap FTSE 250 <.FTMC> also rose 0.2% by 0707 GMT.

British Gas parent Centrica <CNA.L> sank 10.1% to its lowest level in more than two decades as it slashed its dividend and said its chief executive would step down.

Reckitt <RB.L> lost 5.3% after the maker of Durex condom and Lysol disinfectant cut its full-year revenue view and said a slowdown in demand for infant formula in the United States and China had hit second-quarter sales.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Saumyadeb Chakrabarty)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.