- Fresh Middle Eastern tensions and higher oil prices benefit Shell and BP on Monday
- Both companies trading 1.4% higher so far today
- Vodafone (-4.0%) is, however, dragging FTSE 100 down
The renewed tensions in the Middle East combined with higher oil prices have boosted the stocks of major UK oil companies Shell (AMD: RDSA) and BP (LON: BP).
At press time both shares were trading nearly 1.4% higher for the day. This increase, however, failed to benefit the FTSE 100, which remained virtually unchanged at 7 202.05.
One of the shares dragging the index down was Vodafone (LON: VOD). The mobile phone network is so far 4% down after a report that it might be set to slash its dividend payout.