London equities continue to edge higher as the week progresses with rising oil prices, due to increased U.S. gasoline demand, lending a degree of support to the petrochemicals companies.
More Quotes from Matt Buckland:
The short trading week looks set to be dominated by oil prices. The news is likely to depress stocks with higher input costs set to damage margins.Matt Buckland
Although the London index may have closed just slightly below these levels, with the overall mood for equities remaining positive, expectations are now for the market to hold onto these gains in early trade.
Matt Buckland
The airline themselves aren't actually even coming out with any ideas of how much the strike is going to hurt them on top of the increase in oil prices so we're not actually making any call on price at the moment but it will be down and I would say quite heftily.
Matt Buckland
There's some concern that although inflationary pressures do appear to have receded in recent days, higher fuel prices could reignite worries here and this in turn has the potential to weigh on stocks across the board.
Matt Buckland
Crude is back above 61 a barrel -- something that will buoy the likes of Shell and BP -- and in turn give the FTSE some support in early trade, but once again the implications this news has on industry as a whole may yet weigh on broader stocks in the days ahead.
Matt Buckland
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