FTSE rises as oil surges

BP has gained 9p, or 1.4%, to 640p. Oil traded near a record in New York on concern geopolitical tensions will disrupt supplies following North Korea's missile tests and amid higher gasoline demand in the US during driving season. BHP Billiton has also gained 11p, or 1.1%, to 1037p. Meanwhile, HMV has lost 6.25p, or 3.6%, to 167p. Net income fell to £56.2m as the book and music retailer battled increased competition from online retailers and supermarkets. In Japan, the Nikkei 225 Stock Average slid 202.54 points, or 1.3%, to 15,321.40 points after a report on US factory orders and ...