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FTSE 100 up as BP shares rise following Anadarko agreement.

[ClickPress, Mon Oct 17 2011] Spread betting provider City Index (http://www.cityindex.co.uk/) 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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About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting.

We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more information

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Publication:ClickPress
Date:Oct 20, 2011
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