London’s blue-chip stock index bounced off two-week closing lows, as energy stocks received a lift from rising crude prices and investor sentiment steadied ahead of an annual conference of world central bankers.
The FTSE 100 index (. FTSE) gained 0.6% after three consecutive sessions of losses.
Oil majors Shell (SHEL. L) and BP (BP. L) rose over 1% each, as crude prices were supported by the prospect of tighter supplies amid disruptions to Russian exports and the partial shutdown of a U.S. Refinery.
Ireland’s CRH (CRH.L) rose 2.7% to the top of FTSE 100 after the building materials firm reported strong first-half results.
The global sentiment improved after a bout of selling this week on concerns about a European recession as well as hawkish signals from the U.S. Federal Reserve policymakers.