FTSE 100 movers: Oil giants in the red; Flutter flies higher
London’s FTSE 100 was down 0.4% at 6,732.13 in afternoon trade on Monday.
Oil giants BP and Shell gushed lower as oil prices fell.
On the upside, gambling company Flutter Entertainment was the top performer on the index after saying it was considering spinning off its FanDuel business to cash in on the growing US sports betting market.
Responding to media speculation, the owner of Paddy Power and Betfair, said it "regularly evaluates its organisational and capital structure to assess how best to position itself to deliver upon the group’s strategy".
Russ Mould, investment director at AJ Bell, said: "Flutter potentially listing its sportsbook and daily fantasy sports betting business FanDuel in the US makes perfect sense for two reasons.
"First, it is likely to get a much higher valuation than is currently attributed to the operation as part of the Flutter group.
"Second, this is arguably the most exciting part of its group and it seems logical to want to capitalise on positive momentum and give investors an opportunity to invest purely in this bit. It also helps there is already a listed peer in the form of DraftKings."
Travel & leisure shares were also on the rise amid vaccine optimism. British Airways owner IAG, engine maker Rolls-Royce, catering group Compass and Premier Inn owner Whitbread all gained.
FTSE 100 - Risers
Flutter Entertainment (CDI) (FLTR) 16,740.00p 5.98%
International Consolidated Airlines Group SA (CDI) (IAG) 219.80p 3.48%
Rolls-Royce Holdings (RR.) 118.20p 2.92%
Fresnillo (FRES) 947.20p 1.76%
Imperial Brands (IMB) 1,421.00p 1.72%
British American Tobacco (BATS) 2,687.00p 1.65%
Avast (AVST) 457.20p 1.65%
Compass Group (CPG) 1,618.00p 1.63%
Kingfisher (KGF) 305.40p 1.53%
Whitbread (WTB) 3,512.00p 1.47%
FTSE 100 - Fallers
Morrison (Wm) Supermarkets (MRW) 171.05p -3.06%
Evraz (EVR) 556.60p -2.86%
Standard Life Aberdeen (SLA) 284.00p -2.84%
Phoenix Group Holdings (PHNX) 721.80p -2.27%
Rio Tinto (RIO) 5,623.00p -2.12%
M&G (MNG) 221.00p -2.04%
BHP Group (BHP) 2,136.50p -1.97%
Pearson (PSON) 801.00p -1.86%
BP (BP.) 317.75p -1.76%
Royal Dutch Shell 'B' (RDSB) 1,491.40p -1.75%