- A recovery in oil prices from the one-year lows seen after a big sell-off on Friday continued to boost the FTSE 100 on Monday. By midday the index was up 0.9% at 7,015.26.

Index heavyweights, BP and Royal Dutch Shell advanced 1.7% and 1.9% respectively, while US futures primed investors for a strong start when trading begins on Wall Street later.


Mining giant Rio Tinto said it had agreed to sell its stake in the Rossing uranium mine in Namibia to China National Uranium Corporation for up to $106.5m. Its shares fell 0.9% to £36.11.

AstraZeneca, meanwhile, said the FDA had granted an orphan drug designation for its rare autoimmune disease treatment. Its shares dipped 0.4% to £61.67.

Convenience foods producer Greencore added 0.8% to 195.5p, as it completed the sale of its entire US business to an affiliate of Hearthside Food Solutions for $1.08bn.


Cream cakes retailer Cake Box puffed 2.4% higher to 180.3p, as soaring sales helped it lift underlying profits in the first half by 34%.

Hotel Chocolat firmed 3.3% to 324.9p after it opened its first store in Japan.

Alternative energy company PowerHouse Energy jumped 13.4% to 0.58p on news that it had received a formal invitation from Japan's Toyota Tsusho to discuss forming a technology partnership.

Quadrise Fuels International, meanwhile, was flat at 2.4p, after it announced it had extended contracts for an exclusive supply agreement with AkzoNobel for a further year to November 2019.

Property investor Palace Capital fell 2.6% to 292.3p, despite posted a 67% rise in first-half profit, after it said it was struggling to find value in the current market to deliver appropriate returns to shareholders.

Story provided by