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FTSE 100 movers: BP, Shell gush higher; St James's Place tumbles
(Sharecast News) - London's FTSE 100 was flat at 7,642.29 in afternoon trade on Friday. BP and Shell gushed higher as oil prices jumped.
On the downside, St James's Place plunged after the wealth manager confirmed it is reviewing its fees and charges structure for clients to comply with new consumer duty rules that took effect over the summer.
The company had already said in its half-year report in July that it was "building on the work it completed for the Consumer Duty".
Responding to press speculation on Friday, it said: "This programme includes an assessment of our fees and charging models to ensure we operate with a simple and scalable charging platform for the long term.
"Whilst the evaluation has not yet been completed and therefore no decision has been made, we are confident that all the options under consideration will ensure value for clients and a strong, secure, and sustainable business for all stakeholders. We naturally continue to engage with all of our primary regulators during this process."
Hargreaves Lansdown also lost ground.
British American Tobacco fell after the US Food and Drug Administration on Thursday blocked the sale of six flavours of its main vape brand, Vuse Alto.
FTSE 100 - Risers
Endeavour Mining (EDV) 1,643.00p 3.53% Fresnillo (FRES) 544.80p 3.03% BP (BP.) 547.70p 2.16% National Grid (NG.) 980.40p 1.64% Shell (SHEL) 2,716.00p 1.31% BAE Systems (BA.) 1,082.00p 1.26% Rolls-Royce Holdings (RR.) 214.00p 1.04% Severn Trent (SVT) 2,447.00p 0.99% United Utilities Group (UU.) 989.60p 0.92% Admiral Group (ADM) 2,420.00p 0.75%
FTSE 100 - Fallers
St James's Place (STJ) 664.00p -18.89% British American Tobacco (BATS) 2,438.50p -3.88% Spirax-Sarco Engineering (SPX) 8,588.00p -3.44% Hargreaves Lansdown (HL.) 743.00p -3.43% Schroders (SDR) 393.10p -2.50% JD Sports Fashion (JD.) 134.10p -2.44% Prudential (PRU) 888.00p -2.33% Ocado Group (OCDO) 559.60p -2.20% NATWEST GROUP (NWG) 224.50p -2.14% RS Group (RS1) 725.20p -1.92%
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