FTSE rises on oil surge

BHP Billiton has climbed 3.5% to £11.63 as oil climbed to near record highs and metal prices rose. British Land has risen 1.6% to £12.40 after UBS AG and Merrill Lynch upgraded their stock recommendation on the company to "buy" from "neutral". BAA has gained 2.4% to 861.5p. The company, the target of a hostile takeover from Spain's Grupo Ferrovial SA, has rejected a bid led by Goldman Sachs Group which valued it at £9.4bn. In Japan, the Nikkei 225 Stock Average index climbed 232.5 points or 1.4% to 17,232.86 points after Lehman Brothers named Mizuho Financial Group its top pick among l...