FTSE 100 follows US markets and opens higher

FTSE 100 pushed higher, gaining 41 points to 7,318. London’s blue-chip index followed gains made in the US overnight.

Shell confirmed the departure of Ben van Beurden, ending a 39-year association with the Anglo-Dutch oil major. Wael Sawan, head of gas and renewables, will be his successor from the start of next year.

John Lewis reported an increased loss of £99mln in its full-year results. The retailer blamed unprecedented cost inflation.

The billionaire owner of outdoor clothing and camping company Patagonia gave away the business to an environmental trust to fight the climate crisis. All profits will go to these organisations.

Avation said it expects its results for the year to show a return to net profit. It said itself and the aircraft leasing sector continue to recover from the slump in air travel during the COVID-19 pandemic.

Oriole Resources reported positive results from the latest drilling programme at its 90%-owned Bibemi gold project in Cameroon. The results prove the existence of multiple grade-bearing, sub-horizontal veins.

Parkmead Group said it will increase its interest in the Skerryvore prospects in the Central North Sea. Its stake in the project will rise to 50% from 30%.

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