Shell and BP Fuel FTSE 100 Surge as Index Rises 70 Points
Shell rallied alongside BP as the FTSE 100 climbed 70 points to 10,625, placing Shell among two of the index’s top 15 names trading in positive territory. UK inflation fell near 3%, prompting traders to price in a 25bp Bank of England rate cut next month and lifting energy stocks.
1. FTSE 100 Reaches Record Levels
The UK’s FTSE 100 index jumped 70 points to 10,625 as investors responded to a drop in headline inflation to near 3%, bolstering expectations of a 25bp Bank of England rate cut in March. Broad gains were led by defence and aerospace stocks as well as banks and miners, underpinned by robust macro sentiment.
2. Shell Among Front-Foot Energy Stocks
Shell rallied alongside BP, marking one of only two positions among the index’s top 15 names trading in positive territory during the move. Energy names benefited from improving growth outlook tied to lower borrowing costs and sustained global oil demand, highlighting the sector’s resilience.