FTSE 100 movers: Oil firms in demand

2nd Jul 2010 17:09

The potential bid for Dana Petroleum appears to have encouraged buying in its larger oil and gas peers. Tullow Oil and Cairn Energy lead the Footsie risers. BP, though, is going the other way as it considers what it can sell to help pay for the Gulf of Mexico spill. The Australian government's decision to replace the controversial Resources 'Super Tax' with a more moderate alternative has given a lift to Xstrata. In a joint statement the trio welcomed a new Mineral Resource Rent Tax (MRRT) that would only apply to iron ore and coal resources from 1 July 2012.BT Group continues to fall as it is estimated that it could lose more than £100m by offering Sky Sports at a discounted price following BSkyB's price rise yesterday. FTSE 100 - RisersTullow Oil (TLW) 1,048.00p +5.70%Cairn Energy (CNE) 422.10p +5.18%Lloyds Banking Group (LLOY) 54.50p +4.39%Barclays (BARC) 265.70p +4.05%Aviva (AV.) 315.10p +3.04%Eurasian Natural Resources (ENRC) 841.50p +2.87%Vedanta Resources (VED) 2,131.00p +2.80%Petrofac Ltd. (PFC) 1,172.00p +2.72%Xstrata (XTA) 868.60p +2.70%BG Group (BG.) 1,025.50p +2.35%FTSE 100 - FallersSmith & Nephew (SN.) 581.50p -5.52%Inmarsat (ISAT) 704.00p -1.61%BP (BP.) 323.00p -1.51%BT Group (BT.A) 126.10p -1.48%Vodafone Group (VOD) 136.50p -1.34%3i Group (III) 259.20p -1.33%Reckitt Benckiser Group (RB.) 3,045.00p -1.30%Experian Group (EXPN) 578.00p -1.03%Unilever (ULVR) 1,742.00p -0.85%Burberry Group (BRBY) 739.50p -0.80%