FTSE 100 up on oil prices
FTSE 100 up 1.43 per cent to 4,756.58
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By Matt Hallam. |  |
Thursday, 20, Aug 2009 05:41
Optimism among investors helped take the FTSE 100 1.43 per cent higher to 4,756.58.
Higher metals and oil prices helped the UK's leading share index to recover after recent losses, while markets in Asia and the US staged similar rallies.
Advertising firm WPP Group topped the list after Nomura Securities recommended the stock ahead of interim results next week, sending the stock 7.27 per cent higher.
Thomas Cook was also among the risers, up 5.76 per cent on yesterday's news Arcandor's 53 per cent stake could be sold next month.
But mining firms dominated the blue-chip index, with Antofagasta up by 5.29 per cent, Xstrata up 4.99 per cent and Anglo American up by 4.36 per cent.
Only a handful of stocks were in the red, led by investment firm Man Group, which was down by 1.2 per cent, followed by a 1.05 per cent fall at British Land Securities.
Over in the US, Wall Street was heading higher in early afternoon trading. The Dow Jones was up by 0.37 per cent, while the S&P 500 rose by 0.75 per cent.