The FTSE 100 index gained 6.10 to close at 4,412.80 after OPEC calls to cut oil output by the cartel's members sent spot oil prices soaring and BP and Shell's shares up in London.
BP added 12p to 457p on the news, driven also by positive City reactions to its meeting with equities analysts yesterday, which resulted in a raft of upgraded recommendations on the stock today. Shell added 3.5p to 367.25p. Allied Domecq gained 7p to 449.25p after announcing surging demand for single malt whiskey has encouraged it to reopen a distillery on Scapa. Rolls Royce dropped 2.25p to 224.5p after signing a three-year deal to buy nickel alloys from South Africa for use in engine manufacturing in the UK, Italy and China, although the value of the deal was not announced. Th...
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