FTSE 100 movers: Weaker oil and pound drives rises

The FTSE 100 was little moved by Tuesday's events with the index oscillating around parity for most of the session.

To the top of the list sailed Carnival ahead of third-quarter earnings from the cruise ship operator next Thursday as investors accumulated stock in expectation of good news.

Carnival is one of many companies in the leaderboard to benefit from the weaker oil prices, likewise British Airways and Iberia owner IAG which was also among those flying higher.

Energy companies Royal Dutch Shell and BP were big drags on the index following a report from the International Energy Agency suggesting the supply glut will continue through the middle of next year.

This dashed hopes that the global crude surplus will have been run off by the end of this year after several supply disruptions over year.

A disappointing UK inflation reading saw sterling give up all its gains since the start of the month.

Companies that benefit from a weaker pound are due to benefit it sterling continues to be weak, including building materials group CRH, which takes at least half of its revenue from the US, internationally popular Burberry; and Coca-Cola HBC were also in the top ten risers.

GlaxoSmithKline dropped out of the list after strong gains earlier, having led the risers initially after the drug giant announced a deal overnight to offload its portfolio of anaesthetic drugs to South African firm Aspen Pharmacare for up to £280m, of which £180m will be up front with up to £100m in milestone payments as GSK looks to focus on its core areas.

FTSE 100 - Risers

Carnival (CCL) 3,457.00p 2.52%
London Stock Exchange Group (LSE) 2,711.00p 1.80%
CRH (CRH) 2,496.00p 1.79%
International Consolidated Airlines Group SA (CDI) (IAG) 423.20p 1.46%
Burberry Group (BRBY) 1,280.00p 1.43%
Coca-Cola HBC AG (CDI) (CCH) 1,652.00p 1.41%
Imperial Brands (IMB) 3,962.50p 1.41%
Shire Plc (SHP) 4,811.00p 1.28%
Wolseley (WOS) 4,302.00p 1.27%
Schroders (SDR) 2,714.00p 1.16%

FTSE 100 - Fallers

Anglo American (AAL) 796.10p -2.86%
Intu Properties (INTU) 288.70p -2.27%
British Land Company (BLND) 632.00p -2.17%
Provident Financial (PFG) 2,918.00p -1.95%
Associated British Foods (ABF) 2,761.00p -1.92%
Prudential (PRU) 1,345.50p -1.64%
BP (BP.) 421.85p -1.60%
Centrica (CNA) 228.20p -1.55%
Standard Life (SL.) 336.80p -1.55%
Land Securities Group (LAND) 1,023.00p -1.54%