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FTSE treads water, braces for worst week since February 2018

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FTSE treads water, braces for worst week since February 2018
A broker looks at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson/Files   -   Copyright  SIMON DAWSON(Reuters)
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(Reuters) – London’s FTSE 100 recovered a bit on Friday, with BP lending the most support after the oil major named CEO Bob Dudley’s successor, but the index is still headed for its worst week in 20 months as worries of a slowdown and risk of recession keep markets on edge.

Blue-chips <.FTSE> were up 0.2% at 0704 GMT after four straight sessions in the red that wiped off nearly 5% from the index. The FTSE 250 midcap bourse <.FTMC> was also up by the same level.

BP <BP.L> rose 1.2% after it named upstream business head Bernard Looney as Dudley’s successor when he retires in 2020.

LSE <LSE.L> topped the FTSE 100 leader-board with a 2% rise after a Reuters report that some of its investors had asked Hong Kong Exchanges and Clearing to sweeten the takeover bid.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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