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FTSE 100 Hits Nine-month High

(RTTNews) – U.K. stocks rose on Friday to extend gains from the previous session, even as Brexit talks continued to drag on, with British officials accusing French President Emmanuel Macron of making fresh demands at the eleventh hour.

The benchmark FTSE 100 rose 46 points, or 0.7 percent, to a nine-month high of 6,538 on optimism over a swift economic recovery from the coronavirus pandemic.

Energy stocks gained ground as OPEC and other oil producing countries such as Russia and Saudi Arabia agreed to increase output beginning next month at a much slower pace to overcome coronavirus-induced demand concerns.

BP Plc rallied 2.5 percent and Royal Dutch Shell advanced 2.2 percent.

SSE Plc shares jumped 3.5 percent. The energy company said it agreed to sell a 10 percent stake in the first two phases of Dogger Bank Wind Farm to Eni for an equity consideration of £202.5 million.

Property developer Berkeley Group Holdings gave up 2.8 percent after posting a fall in profit for the first half of financial 2021.

Associated British Foods rose over 2 percent. The food processing company said that it continues to expect Primark sales and profit to be higher this financial year compared to last.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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