Analysts stating oil company share prices still lag crude oil prices have helped the FTSE higher by about 29 points to 4,488.
Man Group leads the gainers, up 24p to 1,347p as investors bet its short positions will flow through into improved fund performance as stock markets struggle with higher energy prices.
BP is up 8.75p to 501.5p on the oil price analysis.
Shell is up 5.75p to 411.25p.
Unilever is up 6p to 482p after French cosmetics maker L’Oreal reported strong sales in emerging markets such as China and Russia. More disposable income spent on beauty and household products could boost earnings for the Anglo-Dutch conglomerate.
British Airways is down 1.75p to 222.25p on fears strong support for high oil prices will keep it from returning to better profitability.
Sainsbury is down 1.75p to 258.5p following yesterday’s downgrade of its debt by ratings agencies.
In New York, shares gained yesterday, helping the Dow Jones Industrial Average index to a 51.40 points gain to 10,173.92. The broader S&P 500 index added 5.09 points to 1,104.24.
Asian shares gained. Tokyo’s Nikkei 225 index added 45.56 points to 11,127.35 this morning, while Hong Kong’s Hang Seng index added 173.59 points to 13,023.87.IFAonline
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till