The FTSE 100 Index finished 62.3 points higher at 5,490.1 today after the eurozone bailout fund received a reassuring response as it tapped money markets for short-term funding for the first time.
Energy industry firms were higher after financial service firm Citigroup raised its forecast for Brent crude next year to as much as $120 a barrel, up from its previous estimate of $86 amid supply disruptions.
Royal Dutch Shell was up nearly 3%, or 63p to £23.88 and BP lifted 7.7p to 452.25p, while oil and gas facilities firm Petrofac topped the FTSE 100 Index risers’ board with a gain of 70p to £14.43 after it said it expected like-for-like profits growth of at least 20% in 2011.
Other strong performers in the Footsie included Weir Group ahead 65p at £19.58, Vedanta Resources up 36p at £11.01 and BG Group 42.5p higher at £13.67.
Premier Inn and Costa owner Whitbread was the biggest faller in the Footsie – down 4%, or 62p at £15.14 – after disappointing the City with slower quarterly revenue growth.
Other casualties included Burberry off 27p at £11.90, Barclays down 2.85p at 178.6p and Standard Chartered off 13.5p at £14.06, while Tesco was down 2p at 389.5p and B&Q owner Kingfisher shed 2.3p to 245.8p.
Thomas Cook was 3%, or 0.45p lower at 14.8p as the travel group geared up for annual results by announcing the sale of its stake in five hotels and a golf club in Spain.
Carpetright shares made strong gains in the FTSE 250 Index – rising 31.6p to £4.27 – despite the firm saying underlying first half profits fell 86% to £1.4million.
Alan Cockburn, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Wood Group up 2.53% at £6.49 and Aggreko rising 2.1% to £18.50.
Aberdeen-based Parkmead Group fell 5.08% to 14.125p and Irn-Bru maker AG Barr shed 3.01% to £11.88.