BP Rises as Oil Prices Climb, ME Group Strikes Asda Deal

FTSE 100 and 250 movers see mixed results amid market volatility

Apr. 9, 2026 at 8:26am

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In a day of mixed results for FTSE 100 and 250 companies, oil major BP saw its shares rise 2.6% as crude oil prices climbed, while ME Group International jumped 4.6% after announcing a new partnership with UK grocer Asda. Other notable movers included utilities firm United Utilities Group and staffing provider Hays, which fell to a 12-month low.

Why it matters

The performance of major UK-listed companies provides insights into broader economic and market trends, with oil and energy firms benefiting from rising commodity prices, while more cyclical sectors like staffing struggle amid economic uncertainty.

The details

BP's share price rise was driven by a jump in Brent crude oil to $98.13 per barrel, up from $95.20 the previous day. The oil major's gains came as tensions between the US and Iran showed signs of escalating. Meanwhile, ME Group International announced a new partnership with Asda to install up to 700 of its Wash.ME laundry machines across the grocer's high-footfall locations. The deal represents a significant expansion opportunity for ME Group's self-service equipment business.

  • Brent crude oil traded at $98.13 per barrel on Thursday, up from $95.20 the previous day.
  • ME Group International announced its new Asda partnership on Thursday.

The players

BP PLC

A major British oil and gas company.

ME Group International PLC

A provider of instant service equipment, including its Wash.ME laundry machines.

Asda

A major UK grocery retailer.

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The takeaway

The mixed performance of FTSE 100 and 250 companies highlights the ongoing volatility in the UK markets, with energy firms benefiting from higher commodity prices while more cyclical sectors face headwinds. The ME Group-Asda partnership demonstrates how companies are seeking new growth opportunities amid the changing retail landscape.