Business

Oil surge sends FTSE 100 higher

Market trader (file picture) Image copyright PA

(Close): London's leading share index closed up more than 1%, with oil firms getting a boost from rising crude prices.

The FTSE 100 closed up 67.52 points, or 1.1%, at 6,204.41, with the index up 1% for the week as a whole.

Oil firms were among the top gainers - BP rose 3.3% and Royal Dutch Shell was up nearly 4%.

The price of oil jumped on Friday after data showed US crude stockpiles fell last week.

The price of Brent crude oil jumped more than 5% to $41.52 a barrel, while US crude was also up more than 5% at $39.34 a barrel.

Mining stocks also lifted the FTSE, with Anglo American up 8.1% and BHP Billiton 4.5% higher.

On the currency markets, the pound rose half a cent against the dollar to $1.4107 and was 0.1% higher against the euro at €1.2371.