FTSE 100 climbs with oil giants on top

FTSE 100 opened higher, gaining 61 points to 7,533 with the index supported by gains made by oil heavyweights BP and Shell.

The retail arm of Shell was fined almost £537,000 by Ofgem, the UK’s energy regulator. It was fined for charging over 11,000 customers more than the price cap.

British Gas will donate 10% of its profits to help customers deal with the worsening energy crisis. Its owner Centrica said thousands of the poorest homes will receive financial help.

Atom Bank’s four-day working week trial was “overwhelmingly positive,” improving productivity and job satisfaction. Recruiting and keeping staff improved and there was no negative impact on customer service.

Among the small caps, Greatland Gold raised £30mln via an oversubscribed placing. The cash will be used to fund the development of ongoing licenses, including the Havieron deposit.

Guild Esports signed a “significant expansion” to its partnership with Samsung, including a new agreement and the extension of a previous one. The total value of these deals amounts to six figures in pounds sterling.

Powerhouse Energy interim chairman Keith Riley said he is encouraged by the growing interest outside of the UK. The waste to energy group has signed projects in Ireland and Poland since its half-year end in June.

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