FTSE gets a boost from power companies

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The FTSE 100 Index gained 35.1, or 0.6%, to 5716.80 this morning led by Centrica and International Power.

Power prices reached their highest point in four months yesterday amid near-record temperatures across northern Europe. Centrica, the UK's biggest energy supplier, has advanced 5.2p, or 1.9%, to 282.25p while International Power, an electricity producer on four continents, has so far rallied 5.75p, or 2.1%, to 283.5p. Corus, the UK's biggest steelmaker, has added 10.75p, or 2.7%, to 413.75p after Citigroup this morning raised its estimates for 2006 and 2007 European steel prices by 10% and 5% respectively. The brokerage has also raised its earnings forecast for Corus by 22% for 2006 t...

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