# FTSE 100 rebounds on energy, earnings lift Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-08-25 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: FTSE 100 Index Bounces Back on Rising Crude Prices and Meta Description: London's blue-chip stock index bounces back with energy stocks soaring, while CRH tops the list with strong results. Stay updated on market trends. URL: https://financedigest.com/ftse-100-rebounds-on-energy-earnings-lifthtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-08-25t073321z1lynxmpei7o06urtroptp4lse-thomsonreuters-1736815375467-compressed.jpg) By Johann M Cherian and Sruthi Shankar (Reuters) -London’s blue-chip stock index bounced off two-week closing lows on Thursday, as energy stocks received a lift from rising crude prices and investor sentiment steadied ahead of an annual conference of world central bankers. The FTSE 100 index gained 0.6% after three consecutive sessions of losses. [Oil majors Shell](https://www.financedigest.com/shell-chevron-and-petrobras-weigh-guyana-oil-auction-bids-sources.html "Shell, Chevron and Petrobras weigh Guyana oil auction bids -sources") and BP rose over 1% each, as crude prices were supported by the prospect of tighter supplies amid disruptions to Russian exports and the partial shutdown of a U.S. refinery. \[O/R\] Ireland’s CRH rose 2.7% to the top of FTSE 100 after the building [materials firm reported](https://www.financedigest.com/uks-morgan-advanced-materials-reports-cyber-security-incident-on-its-network.html "UK’s Morgan Advanced Materials reports cyber security incident on its network") strong first-half results. The global sentiment improved on Thursday after a bout of [selling this week](https://www.financedigest.com/this-is-the-best-week-for-cash-savvy-iphone-fans-to-sell-their-6s-models.html "This is the best week for cash-savvy iPhone fans to sell their 6s models") on concerns about a European recession as well as hawkish signals from the U.S. Federal Reserve policymakers. We are definitely entering a period of weaker economic activity, but the evidence from [companies that have reported](https://www.financedigest.com/global-body-urges-eu-to-make-company-life-simpler-by-aligning-climate-reporting.html "Global body urges EU to make company life simpler by aligning climate reporting") so far this year does not suggest that it’s really hitting them,” said Jamie Ross, fund manager of Henderson EuroTrust. When I look ahead, I do expect the weakness in [economic data](https://www.financedigest.com/oil-slumps-on-economic-data-stronger-u-s-dollar.html "Oil slumps on economic data, stronger U.S. dollar") to start to translate into weakness in earnings. Areas like industrials, autos and semiconductors, we’d [expect to see](https://www.financedigest.com/thomson-reuters-report-reveals-risk-compliance-staff-expect-to-see-significant-benefits-from-artificial-intelligence-ai-and-distributed-ledger-technologies.html "Thomson Reuters Report Reveals Risk & Compliance Staff Expect to See Significant Benefits from Artificial Intelligence (AI) and Distributed Ledger Technologies") some pressure. Data showed British car production rose for a third consecutive month in July but remained 46.4% below [pre-pandemic levels](https://www.financedigest.com/fraport-sees-2023-passenger-traffic-at-80-90-of-pre-pandemic-levels.html "Fraport sees 2023 passenger traffic at 80-90% of pre-pandemic levels") as the industry struggles with supply chain shortages, structural changes and weak exports. [Investors are bracing for hawkish signals from Fed](https://www.financedigest.com/oil-steadies-after-dipping-on-china-outlook-investors-await-fed-clues.html "Oil steadies after dipping on China outlook; investors await Fed clues") Chair Jerome Powell when he speaks at the Jackson Hole symposium on Friday. The domestically exposed [FTSE 250 index inched](https://www.financedigest.com/ftse-100-inches-towards-recent-highs-as-bp-shines.html "FTSE 100 inches towards recent highs as BP shines") up after sinking to a more than one-month low in the previous session. [Hays Plc rose 3.3% after the recruitment](https://www.financedigest.com/recruiter-hays-boosted-by-record-net-fees-but-cautious-on-outlook.html "Recruiter Hays boosted by record net fees, but cautious on outlook") agency reported a 128% jump in annual profit due to a rise in demand for new staff as employers rush to fill vacancies. Harbour Energy rose 10%, pulling the midcap index higher with it after the UK North Sea’s biggest oil and gas producer increased a [share buyback](https://www.financedigest.com/abb-to-launch-1-billion-share-buyback-on-april-3.html "ABB to launch billion share buyback on April 3") programme by 50%. (Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu and Krishna Chandra Eluri) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---