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FTSE 100 up as BP shares rise following Anadarko agreement.

[ClickPress, Mon Oct 17 2011] Spread betting provider City Index ( takes a look at the financial activity shaping the markets on 17th October 2011.

Shares were up on the FTSE 100 today (17th October), as the weekend's eurozone meetings saw more rises.

As of 9.23 BST, the FTSE 100 was enjoying a 1.38 per cent increase with trading at 5,541.69.

One of the biggest movers on the market was BP, with shares up following the announcement of a settlement with Anadarko Petroleum Company following the Deepwater Horizon accident.

It followed months of difficulties that had previously seen Anadarko accuse BP of gross negligence.

Under the terms of deal, Anadarko will pay $4 billion towards BP's $20 billion trust paying damages for the incident.

BP group chief executive Bod Dudley believes this "represents a positive resolution of a significant uncertainty and it resolves the issues among all the leaseholders of the Macondo well".

The result saw BP shares up 5.33 per cent with trading a 438.60.

Meanwhile security group G4S was one of the biggest fallers on the FTSE 100 with a drop of 17.82 per cent.

It came after it was announced that the company is set to purchase facilities management company ISS, in a deal worth a potential Au5.2 billion.

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Date:Oct 20, 2011
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