LONDON (SHARECAST) - Higher oil prices and some strong company news have the oil and gas sector in the blue.
Crude oil for December delivery was back near $65 a barrel in New York having fallen below $62.
BP was among the risers after higher production and soaring oil prices helped it post a sharp rise in profits in the third quarter to September. Replacement cost profit for the period totalled $10bn, a rise of almost 150% from the same period a year ago.
BG Group also climbed after saying has agreed to buy Australian firm Queensland Gas Company (QGC), valuing the firm at around £2.2bn. BG will pay AUD$5.75 per share, an 80% premium on the closing price on Friday, for the shares it does not hold in the group. It already owns 9.9% QGC.
Automobiles and parts stocks are lower, including GKN which continues a decline that started yesterday when the maker of parts for cars and planes said full year profits will be down by 20%.
Top performing sectors so far today
Technology Hardware & Equipment 162.56 +6.51%
Life Insurance 2,373.69 +5.18%
Oil & Gas Producers 6,018.90 +4.21%
Banks 4,048.37 +4.11%
Insurance (non-life) 1,123.63 +4.11%
Bottom performing sectors so far today
Industrial Metals 1,288.86 -6.95%
Automobiles & Parts 1,609.59 -3.77%
Food & Drug Retailers 3,710.98 -2.08%
Food Producers & Processors 3,293.03 -1.56%
Personal Goods 4,839.82 -1.52%
