BUSINESS CLOSE: UK service sector rebounds; Shell takes 145million pounds in Texas storm

CLOSING OF BUSINESS: FTSE 250 hits new record; rebound in the service sector; Shell Takes £ 145 Million in Texas Storm; Ryanair expects losses to drop

The FTSE 100 finished up 0.91% or 61.77 points at 6,885.32 this afternoon, while the FTSE 250 closed at a new record, up 166.09 points to 22,160, 57.

The UK’s services sector resumed growth at its fastest pace in seven months with a score of 56.3 in March, although early indications suggest that high inflation could occur, according to the purchasing managers index.

A number above 50 indicates growth and a number below means the sector has contracted.

Oil giant Shell said a storm that blanketed Texas in February, killing more than 100 people, cost it around £ 145million in adjusted profit and hit oil production by around 10,000-20 000 barrels per day.

Low-cost airline Ryanair predicts losses will be between € 800 million and € 850 million lower in the last fiscal year, as it revealed that only 27.5 million passengers boarded its planes during that time, up from 149 million the previous year.

Vacation group Saga reported a pre-tax loss of £ 61.2million and said its tourism and cruise business would not resume operations until later this year. It has reduced its workforce by 36% due to travel disruptions linked to a pandemic.

Oil giant Shell said a storm that blanketed Texas in February, killing more than 100 people, cost it around £ 145million in adjusted profit.

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