Oil prices lead FTSE higher

Drax posted the biggest gains with a rise of 3.16% to 735.5p, closely followed by Intercontinental Hotels which gained 2.94% to £12.26, following renewed bid speculation, while Compass has climbed 2.52% to 305p. Home Retail also climbed 2.02% to 417.25p, closely followed by BP which gained 1.77% to 546.5p, although Persimmon limited gains with a fall of 1.37% to £14.37, while Cairn Energy slipped 1.54% to £16.63. However Liberty International was the biggest faller with a drop of 2.62% to £13, following profit taking among property stocks, while Alliance Boots slipped 2.53% to 790.5p, a...