Ofgem to review response to Storm Arwen, removes compensation cap for power-cut homes – live
- Ofgem says 10,500 homes still without power after Storm Arwen
- US economy adds just 210,000 jobs, but jobless rate drops to 4.2%
- BOE’s Saunders wants to assess Omicron impact on economy
- UK services sector boosted by export sales; eurozone growth picks up for first time in four months
- Shell to go ahead with seismic tests in whale breeding grounds
- Covid booster shots significantly strengthen immunity, trial finds
- Turkish inflation hits three-year high
- Markets on a rollercaster owing to Omicron
The FTSE 100 index in London is on track for a weekly gain, boosted by oil stocks. BP and Royal Dutch Shell are 2% and 1.2% ahead respectively on the back of a jump in oil prices. Brent crude has gained 3.4%, or $2.34, to $72.01 a barrel while US light crude has risen 3.3%, or $2.16 a barrel, to $68.67 a barrel.
Insurance stocks Prudential and Legal & General have both gained more than 1% after the German insurance giant Allianz raised its targets for shareholder returns for 2022 to 2024.
