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Shell beats the street and announces $5 billion buyback- FTSE 100 futures higher
The Q3 results from the UK listed oil giant, Shell have just hit the wires and the company has beaten estimates, but not by as much as it might have, given where the oil markets have been over the past 3 months. That said, the company has also announced another in a long line of share buyback programs, this time to the tune of $5 billion.
Yesterday the FTSE 100 just about managed to squeeze out a higher close. The index closed 7.96 points higher, at 10,694.50. That probably speaks volumes about how the markets really digested the UK budget? Well, since then the futures have moved higher and this buyback news from Shell surely cannot be a negative. That said, we shall be keeping an eye on those UK yields, when GILT trading kicks off again after 8am GMT.
So, the effective opening call for the FTSE 100 is higher this morning, currently suggested around 10,720
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