London Markets: Shipping services firm surges as FTSE 100 edges higher behind oil companies

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A huge crane overlooking the Pier VII at Trieste’s new port on April 2, 2019 in Italy.

Marco Di Lauro/Getty Images

Shipping services provider Clarkson was the standout mover in a listless day for stocks in London on Monday, rallying after resuming dividends and reporting a rise in profit during the first half.

Clarkson CKN, +11.66% shares rose nearly 12%, as it said its underlying pretax profit edged up to £21.1 million and revenue rose to £180.4 million from £167.8 million. It is going to pay the equivalent of the 2019 final dividend of 53 pence per share as an interim dividend, and declared a further interim dividend for 2020 of 25 pence per share.

In its key brokering division, “charter rates were generally stronger, with strength in the tanker and gas markets offsetting weakness in dry bulk, offshore and containers,” said analysts at Liberum Capital.

The FTSE 100 UKX, +0.58%, meanwhile, edged up 0.4%, with most overseas financial markets rising after U.S. President Donald Trump signed four executive orders that would extend jobless benefits and temporarily cut payroll taxes.

Strong oil prices BRN00, +1.48% lifted major oil companies BP BP, +3.09% and Royal Dutch Shell RDSA, +2.35%.

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