A levy on oil giants is to remain until 2028, but with the potential for the tax rate to drop to 40% if prices are lower for a sustained period.
Elsewhere, shares in speciality chemicals company Croda International have slumped after it warned on profits while FTSE 250-listed payments business Network International has backed a £2.2 billion takeover.
The FTSE 100 index is down after the S&P 500 entered bull market territory in Thursday’s Wall Street session and China recorded the biggest drop in producer prices since 2016.
