FTSE 100 movers: BP shines as oil prices rise; IHG in the red

London’s FTSE 100 was up 0.8% at 7,760.78 in afternoon trade on Friday.

Oil giant BP was the standout gainer on the index as oil prices rose.

Banks were also on the front foot, with NatWest, HSBC and Barclays all higher. HSBC was in focus after its shareholders rejected a proposal to split the business and spin off the Asian arm.

The proposal, which was backed by the bank’s largest shareholder - Chinese insurer Ping An Asset Management - was voted down earlier at the annual meeting in Birgmingham.

Resolutions 17 and 18 on the agenda were tabled by a group of investors led by Ken Lui, and called for a strategic review of the bank, which included the spinoff and a proposal for fixed dividends.

On the downside, InterContinental Hotels slumped after it announced the departure of chief executive Keith Barr and said it had seen a "good start" to the year. Barr will be replaced by Elie Maalouf, who has led IHG’s Americas business as regional chief executive for the last eight years.

FTSE 100 - Risers

BP (BP.) 491.45p +3.14%

NATWEST GROUP (NWG) 259.90p +2.97%

HSBC Holdings (HSBA) 597.60p +2.33%

Prudential (PRU) 1,185.50p +2.29%

Barclays (BARC) 151.62p +2.28%

Anglo American (AAL) 2,428.00p +2.15%

Glencore (GLEN) 442.65p +1.99%

St James's Place (STJ) 1,128.00p +1.81%

Entain (ENT) 1,496.50p +1.80%

Ocado Group (OCDO) 490.80p +1.78%

FTSE 100 - Fallers

InterContinental Hotels Group (IHG) 5,424.00p -1.70%

BAE Systems (BA.) 978.80p -1.45%

Hargreaves Lansdown (HL.) 790.40p -1.25%

Compass Group (CPG) 2,079.00p -1.00%

Endeavour Mining (EDV) 2,084.00p -0.95%

Reckitt Benckiser Group (RKT) 6,420.00p -0.93%

GSK (GSK) 1,452.80p -0.91%

Relx plc (REL) 2,429.00p -0.86%

Smith & Nephew (SN.) 1,264.50p -0.78%

Smiths Group (SMIN) 1,656.00p -0.60%