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Oil stocks rally as major banks edge upwards
Evening Standard
|March 28, 2023
A RALLY for major oil stocks and a sustained bounce higher for banks set the FTSE 100 on course for its second consecutive session of gains today, with defensive stocks taking a hit.
As bargain-hungry investors bought back into the sectors that led last week’s sell-off, London’s main stock index added 37 points overall to 7508.71, a rise of 0.5%.
Some of its biggest companies made the best gains of the day, putting their weight into the recovery. BP rose by over 10p to 507p, taking it to the top of the leaderboard with a rise of over 2%. Fellow oil major Shell was 35p stronger at 2267p.
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