FTSE 100 movers: Oil majors rally; Severn Trent goes ex-div

London’s FTSE 100 was up 0.6% at 7,465.55 in afternoon trade on Thursday.

BP and Shell were among the top performers as oil prices gained ahead of the OPEC+ meeting.

Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Brent crude is hovering at $83 dollars a barrel, following climbs sparked by anticipation of what the OPEC meeting will bring.

"There is speculation that addition cuts of up to one million barrels a day could be on the cards to help put a floor under crude prices. Saudi Arabia has been pushing for reductions to quotas but has met with some resistance from other members particularly in Africa."

Papers and packaging groups Smurfit Kappa and DS Smith were high risers.

On the downside, Severn Trent lost ground as it traded without entitlement to the dividend.

FTSE 100 - Risers

Smurfit Kappa Group (CDI) (SKG) 2,986.00p 3.97%
BP (BP.) 485.70p 2.91%
Smith (DS) (SMDS) 291.70p 2.64%
Ocado Group (OCDO) 609.00p 2.59%
Rolls-Royce Holdings (RR.) 270.00p 2.51%
WPP (WPP) 716.80p 1.96%
Shell (SHEL) 2,600.50p 1.84%
Standard Chartered (STAN) 651.80p 1.78%
GSK (GSK) 1,425.00p 1.71%
Hargreaves Lansdown (HL.) 721.40p 1.55%

FTSE 100 - Fallers

Severn Trent (SVT) 2,630.00p -3.17%
United Utilities Group (UU.) 1,111.00p -1.24%
Airtel Africa (AAF) 111.10p -0.63%
Rentokil Initial (RTO) 432.30p -0.53%
Associated British Foods (ABF) 2,377.00p -0.46%
IMI (IMI) 1,572.00p -0.44%
3i Group (III) 2,222.00p -0.40%
Beazley (BEZ) 548.50p -0.36%
Entain (ENT) 798.00p -0.27%
Hikma Pharmaceuticals (HIK) 1,718.50p -0.23%