(MENAFN- ProactiveInvestors) Footsie ended the week on a high note buoyed by news from China and Europe.
The top-share index ended the day up 72 and the week up 96 at 6751.
China’s central bank unveiled new measures to boost economic growth by cutting borrowing costs in the People’s Republic which is a key consumer of commodities.
The news gave miners a lift. The likes of () up 87p to 1380p () up 177p to 3042p and () 80p up at 1662p were among the best performing London stocks.
Rubbing shoulders with the miners at the top of the Footsie leader board was () up 28p to 505p as oil prices rebounded.
The price of crude oil rebounded to US$76 a barrel overnight on fresh hopes that the OPEC cartel will trim output when it meets next week.
Strong US data also lifted crude ending a three day losing streak.
Trading statements were few and far between but Rolls-Royce () left it late it in the week to announce it had won a US$5bn order from Delta Air Lines to supply engines to 50 Airbus planes. Shares climbed 10p higher at 85p.
British Gas owner () dipped 2p to 292p following a downgrade to underweight status by JP Morgan Cazenove.
The firm issued a profit warning yesterday as warmer weather meant more homeowners kept their heating off.
() confirmed it is in "advanced negotiations" with a development financing institution over a new debt facility as it noted the share price increase on Friday. Shares shot up in the morning but finished 6% lower at 0.08p.
Also on the slide was Mwana Africa () down 6.3% at 2.23p after it said its nickel subsidiary Bindura has been granted prescribed asset status by Zimbabwe’s finance ministry which clears the way for a funding to re-start the mine’s smelter.
() jumped 27% on news that it had signed a non-binding memorandum of understanding with Hiria Group which could result in the sale of its Netherlands subsidiary for US$150mln.
() reported directors have bought shares in the company worth over £19000 leading to a 13% share price rise to 0.43p.
Oil and gas explorer () has fleshed out the terms of a possible takeover bid for peer ().
The all share offer values Asia-focused Salamander at 116p per share and comes days after Spain's CESPA ended its interest. CEPSA had led a consortium of buyers offering 121p a share valuing Salamander at £375mln. The move left a clear path for Ophir to acquire Salamander which has prospects in Indonesia and Thailand.
Salamander nudged up 0.3% to 91.88p but Ophir lost 5.6% at 170p.
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