FTSE Moves: BP leads FTSE 100 back above 7,000-mark, but Micro Focus tanks

BP post gains on the rising oil price, but fellow blue chip Micro Focus saw heavy falls.

London Stock Exchange — London market ended the week in positive territory, as the FTSE 100 bounced back above the 7,000 mark Reuters

An uptick in oil giant BP's share played its part in the FTSE 100 spiking above the 7,000-mark on Friday (16 December), but mining stocks continues to struggle, after posting heavy falls in the previous session.

The FTSE 100 ended the week up 0.18% or 12.63 points at 7,011.64, while the FTSE 250 was 0.09% or 15.44 points higher at 17,784.79.

Oil giant BP saw its shares rise 2.13% or 10.20p to 489.70p on a rising oil price, accompanied by EasyJet up 3.58% or 36p at 1043p, as its major rivals British Airways and Virgin Atlantic were left staring at the prospect of industrial disputes.

Other blue chips to notch appreciable gains included Old Mutual (+3.64%), Hikma Pharmaceuticals (+2.58%) and Buberry Group (+2.41%).

However, mining stocks continued to struggle with Antofagasta (-2.20%) and Anglo American (-1.86%) posting declines for the second successive session, with supermarket Tesco (-2.20%) and Carnival (-1.50%) for company. Yet, Micro Focus (-3.49%) – one of the FTSE 100's newest members – was the biggest blue chip faller.

"Despite a strong set of results earlier in the week, the market remains concerned over the risks from the Micro Focus' impeding deal to acquire HPE from Hewlett-Packard," said George Salmon, equity analyst at Hargreaves Lansdown.

Among the midcaps, CMC Markets (+6.57%), Shawbrook Group (+6.30%), Cobham (+5.95%), PZ Cussons (+5.57%) and Brown Group (+5.56%) were among the biggest risers.

Going the other way, the biggest fallers on the FTSE 250 were Hochschild Mining (-9.35%), Just Eat (-4.67%), International Personal Finance (-4.60%), Auto Trader Group (-3.55%) and Clarkson (-2.93%).