Britain’s top share index edged higher on Thursday, after a three-session losing streak pushed it to its lowest levels in over a month, with major oil firms picking up after a sell-off.

The FTSE 100 was up 18.81 points, or 0.3 per cent, at 6,518.86 by 0835 GMT after setting its lowest close since November 4 on Wednesday.

The index had fallen 3.6 per cent in the first three sessions of this week, hit in part by a slumping oil price, which knocked heavily-weighted energy stocks.

Brent crude ticked higher on Thursday, lifting oil and gas shares, although it remained below $65 per barrel, not far from the previous session’s five-year low.

A global glut and weak data from China have put renewed pressure on oil prices this week.

Tullow Oil, Royal Dutch Shell and BP were 1.7-2 per cent higher.

Mid-cap energy services firm John Wood Group rose 3.6 per cent after it said it had secured a $750-million, five-year contract from BP, and said earnings would be in line with expectations.

The energy services sector has been hit by concerns that such contracts could dry up as oil majors cut back further on capital expenditure in the face of a weak oil price. Blue chip peer Petrofac rose 1.7 per cent.

“Wood Group is a solid company and their message today is encouraging,’’ Mark Ward, head of execution trading at Sanlam Securities, said.

“I think they are still undervalued here; they are still nearly 250 pence from their mid-year highs back in June. Clearly the weak oil price will be an ongoing concern, but they are a strong company who can ride out the volatility.’’

Oil and gas-related stocks were the best performers, adding 14.5 points to the FTSE index.

Elsewhere, insurer Legal & General rose 1.1 per cent, with traders citing an upgrade to “buy’’ from “neutral’’ by Nomura as being behind the move.

Aberdeen Asset Management, 3I Group and Babcock were 1-2.4 per cent lower as they traded without entitlement to their latest dividend payouts.

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