FTSE flying high on BA

Northern Rock, the UK's eighth-largest bank, has gained 1.5% to 996p. Its shares were raised to "hold" from "sell" at Citigroup. British Airways has advanced 1.9% to 326p. But oils are a weak spot in an otherwise bullish market after Spain's Repsol cut its oil and gas reserves. BP is down 0.08% to 660p, while Royal Dutch Shell has dropped 0.22% to 1,837p. In Japan, the Nikkei 225 Stock Average closed up 240.02 points, or 1.5%, to 15,891.02, led by financial companies after Mitsubishi UFJ Securities reported a fivefold jump in profit. Mitsubishi UFJ Securities, the brokerage a...