The FTSE 100 has ended the session up 46 points, or 0.72%, to 6,462.4, as oil and drug stocks pushed the index higher.
AstraZeneca posted the biggest gains with a rise of 2.51% to £28.20, closely followed by GlaxoSmithKline which added 2.37% to £14.67, on the back of US pharmaceutical company Merck raising its quarterly and full year earnings guidance.
Meanwhile BP climbed 2.31% to 576p, while Royal Dutch Shell ‘A’ shares added 2.3% to £17.37, although Imperial Tobacco Group limited gains by ending the session with a fall of 1.27% to £22.62.
Kingfisher was the biggest loser with a fall of 1.46% to 270p, closely followed by Rolls-Royce Group which dropped 1.46% to 490.75p, while Experian fell 1.17% to 589p, and Xstrata declined 1.04% to £27.66.
In the US the Dow Jones Industrial Average is up 15.93 points, or 0.13%, to 12,568.89, despite a report revealing inflation rose more than expected in March while consumer sentiment has fallen.
Drug companies are making the biggest gains with Merck up 7.83% to $49.99, closely followed by Pfizer which has added 0.87% to $26.69, while McDonald’s has climbed 1.44% to $47.30.
American Express has advanced 1.08% to 457.12, while General Motors has added 0.77% to $31.61, although 3M Company is limiting any gains with a fall of 0.68% to $76.19.
However IBM is the biggest loser with a fall of 0.99% to $94.72, closely followed by Intel which is down 0.71% to $20.36, while Alcoa has slipped 0.68% to $34.83, and Home Dept has declined 0.55% to $37.81.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7034 2681 or email [email protected]IFAonline
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