Royal Dutch Shell shares propped up the FTSE 100 this morning after reporting better-than-expected results for the third quarter.
The company reported an 18 percent rise in third quarter profit on Tuesday, with underlying profits rising to $2.8 billion. Net income also rose to $2.8 billion, beating analysts’ expectations of $1.71 billion.
Shell’s Integrated Gas division saw a slight increase in profits to $931 million, with its refining and trading division falling to $2.01 billion, from $2.6 billion a year ago.
The figures were a welcome improvement on their disappointing second quarter results, which had been affected by outgoings related to its acquisition of BG in February. Shell missed expectations by around 50 percent, sending shares plunging.
Shell (LON:RDSA) are currently trading up 3.41 percent at 2,108.00 (1007GMT).