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Oil and mining stocks lift FTSE 100



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Last Updated at 17 Nov 2017, 16:23 GMT *Chart shows local time FTSE 100 intraday chart
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(Close): Rising oil and metals prices boosted commodity-related stocks, helping to pull the market higher.

The FTSE 100 rose 45.41 points to 6,873.52 with Tullow Oil leading the way, up 5.1% as the price of Brent crude rose above $60 a barrel.

Rising commodity prices also helped mining shares, with BHP Billiton up 5% and Glencore 3.7% higher.

Anglo American shares rose 3.3% despite it reporting a 25% drop in underlying annual operating profit to $4.9bn.

The mining company also took a $3.9bn asset write-down as a result of lower commodity prices last year.

Sentiment on the market was also lifted by news of stronger-than-expected growth in Germany during the last three months of 2014.

The German economy - the largest in the eurozone - grew by 0.7% in the fourth quarter, while the eurozone as a whole expanded by 0.3%.

That lifted Germany's main stock index - the Dax - to touch a record high earlier in the session.

Shares in Rolls-Royce reversed early falls to close up more than 4%. The engineering group cut its profit forecast for 2015. Rolls is now forecasting profits of £1.4bn-£1.55bn this year, down from underlying profits of £1.62bn in 2014.

The ratings agency Fitch said it already factored in the company's headwinds. It said the company was "well placed to withstand potential declines in demand resulting from deteriorating market conditions, due to its business diversification, growing proportion of long-term service contracts, and cost-cutting measures".

BT Group fell 2.4% after rival Virgin Media announced plans to invest £3bn in improving its fibre optic broadband network, increasing the network's reach from 13 million to 17 million homes.

On the currency markets, the pound was flat against the dollar at $1.5388 while against the euro it slipped 0.03% to €1.3486.