FTSE treads water, braces for worst week since Feb. 2018

Credit: REUTERS/Suzanne Plunkett

London's FTSE 100 recovered a bit on Friday, with BP lending the most support after the oil major named CEO Bob Dudley's successor, but the index is still headed for its worst week in 20 months as worries of a slowdown and risk of recession keep markets on edge.

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FTSE 100, FTSE 250 up 0.2%

LSE among biggest gainers on main bourse

BP advances after announcing CEO transition plans

Oct 4 (Reuters) - London's FTSE 100 recovered a bit on Friday, with BP lending the most support after the oil major named CEO Bob Dudley's successor, but the index is still headed for its worst week in 20 months as worries of a slowdown and risk of recession keep markets on edge.

Blue-chips .FTSE were up 0.2% at 0704 GMT after four straight sessions in the red that wiped off nearly 5% from the index. The FTSE 250 midcap bourse .FTMC was also up by the same level.

BP BP.L rose 1.2% after it named upstream business head Bernard Looney as Dudley's successor when he retires in 2020.

LSE LSE.L topped the FTSE 100 leader-board with a 2% rise after a Reuters report that some of its investors had asked Hong Kong Exchanges and Clearing to sweeten the takeover bid.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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