Business

Energy shares bolster FTSE 100

Market trader (file picture) Image copyright Getty Images

(Close:) Energy shares helped to strengthen the London market on Tuesday as oil prices stabilised.

After touching 11-year lows of just above $36 a barrel on Monday, Brent crude recovered to $36.45 a barrel.

Among energy-related stocks, BG Group was one of the biggest risers in the FTSE 100, climbing 3.3%, while oil giant BP gained 2.9%.

At the close, the benchmark FTSE 100 was up 48.26 points, or 0.8%, at 6,083.10.

Shares in ITV fell 1% after US firm Comcast denied it was interested in bidding for the UK broadcaster. ITV's shares had jumped 4% on Monday on reports Comcast was eyeing the firm.

Shares of retailers came under pressure on worries over the strength of festive sales. Marks and Spencer dropped more than 1% and Next slipped 0.35% after Nomura cut its price targets for both companies.

On the currency markets, the pound slipped 0.45% against the dollar to $1.4819 and fell 0.98% against the euro to €1.3505.