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London Markets: BP and Shell lead FTSE 100 larger on restoration hopes

Protesters protest against police officers holding placards during a demonstration against vaccines outside the offices of the Bill and Melinda Gates Foundation in central London, England on November 24, 2020.

Justin Tallis / Agence France-Presse / Getty Images

Investors bought hard-hit energy and travel stocks on Tuesday, gaining ground as the UK and global economy return to normal as COVID-19 vaccines are made available.

Led by the integrated oil company BP
BP,
+ 7.47%
and Royal Dutch Shell
RDSA,
+ 5.86%,
the FTSE 100
UKX,
+ 1.32%
increased by 1.3%. The news that the U.S. president's transition was underway provided another boost to sentiment from the third Monday in a row that positive COVID-19 vaccine news was announced.

With the engine manufacturer Rolls-Royce, companies that were exposed to the travel sector also developed
RR,
+ 5.79%
and hotel operator Whitbread
WTB,
+ 5.77%
every rally.

Catering giant Compass
CPG,
+ 2.64%
after adjusted earnings per share of 78% for the fiscal year ended September 30, increased 4% and paid no final dividend. Bank of America analysts said the margin forecast is encouraging, but the recovery in volumes should be gradual.

Outside the FTSE 100 is the infrastructure software manufacturer Micro Focus
MCRO,
+ 11.14%,
Catering company SSP
SSPG,
+ 13.16%,
Travel conglomerate TUI
TUI,
+ 12.29%
and cruise company Carnival
CCL,
+ 10.20%
each posted double-digit gains.

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