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FTSE 100 closes high as oil prices rise

Xinhua, January 17, 2015 Adjust font size:

FTSE 100 Index, British benchmark stock market gauge, Friday increased by 0.79 percent, or 51.49 points, to 6,550.27.

The London stock index closed higher on Friday as oil price rise and upbeat U.S. data.

The International Energy Agency (IEA) said oil price tide would return. "A price recovery, barring any major disruption, may not be imminent, but signs are mounting that the tide will turn," said IEA.

Brent crude oil futures rose 3.2 percent to 49.83 U.S. dollars per barrel during Friday's trading session, data from BBC showed.

The U.S. University of Michigan consumer-confidence index rose to a 11-year high of 98.2 in January, over market's expectation.

BP's share price increased by 5.29 percent, topped the gainers of the blue chips. Glencore, BG Group, Anglo American and Fresnillo increased by 4.97 percent, 3.91 percent, 3.78 percent and 3.45 percent percent respectively.

EasyJet led the top losers of the blue chips with a share price drop of 2.74 percent, followed by Meggitt (1.74 percent), Associated British Foods (1.72 percent), Wolseley (1.71 percent) and Dixons Carphone (1.59 percent).

The index has decreased 0.17 percent so far this year when measured in U.S. dollar. Endit