Oil and coal stocks have helped the FTSE gain about 11 points to 4,401 so far this morning, boosted by news from the Continent manufacturing output in January grew at its fastest rate in three years, despite the appreciation of the euro against the dollar.
Shell is up 2.25p to 364.25p, despite news that its corporate bonds could lose their 'AAA' status because the company cannot count its proven reserves properly. BP is up 3p to 431.25p. Xstrata is up 0.5p to 670.5p despite a cut to 'sell' from 'hold' by analysts at Citigroup. Cold weather in Europe is keeping coal prices high. Reuters is up 6.25p to 326.25p, continuing the run that has seen its share price more than triple since last year's low. ITV, the new company formed by the merger of Granada and Carlton Communications, started trading at 144.5p. BAE Systems is up 2.75p to 167...
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