FTSE 100 rises as oil majors continue to trend higher

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The FTSE 100 rose early Friday, led by oil majors including BP and Shell amid a rise in oil prices.

At 08:44, the FTSE 100 was up 0.59% to 7,573.47.

BP and Shell were up more than 2%.

Real Estate Investment Trust Shaftesbury was flat at 615 pence after touting growth ahead as the impact of the omicron-led restrictions were abating, boosting vacancy rates at a time when recent collections continued to improve.

Food and beverage operator SSP was up 3.4% to 273.20 pence after reporting that sales were trending positive in recent weeks following softening in early January, owing to the impact of the omicron variant on travel.

In line with the fourth quarter of 2021, underlying earnings before taxes, interest, depreciation, and amortisation, or EBITDA, was positive during the first quarter of the financial year.

Telecoms company Airtel Africa was up 1.5% to 158.40 pence after reporting a jump in profit as revenue grew by more than a fifth, supported by 'strong' customer growth in Nigeria.

For the nine months through 31 December 2021, pre-tax profit rose 79.4% to $864 million year-on-year as revenue grew by 20% to $1.22 billion.

Platinum group metals Tharisa was up 1.6% to 31.00 pecne after signing a memorandum of understanding with Total Eren, a renewable energy power producer, and Chariot, an African focused energy company for the supply of electricity on a take-or-pay basis.

Maritime predictive intelligence Windward fell 5.6% to 170 pence after saying it expected wider annual losses as labour cost pressures offset annual contract value that swelled to a record.

Construction materials company Saint-Gobain was down 1.9% after agreeing to sell its regional glass processing business Baltiklaas OU in Estonia to Polar Glass OU, for an undisclosed sum.