Shell Shares Surge 2.5% as FTSE 100 Drops 44 Points
Shell shares jumped about 2.5% in early London trading as the FTSE 100 fell 44 points to 10,623, outpacing miners, airlines and housebuilders. The energy major’s defensive positioning alongside BP and Centrica bolstered its performance despite widespread sector declines.
1. FTSE 100 Opening Decline
The FTSE 100 index dropped 44 points to 10,623 in opening trades, led lower by miners, airlines, housebuilders and banks as risk assets retreated across London markets.
2. Shell’s Relative Strength
Shell shares climbed approximately 2.5%, matching BP’s gain and outperforming the broader sell-off as investors rotated into defensive energy names amid wider sector weakness.
3. Sector Winners and Losers
Copper miner Antofagasta fell 3.4% and precious metals miner Fresnillo shed 2.9%, while British Airways owner IAG lost 2.8%; at the other end, Centrica advanced 1.5% alongside gains for BAT, Tesco, BT and National Grid.