(MENAFN- ProactiveInvestors) Shown the way by buoyant US markets London equities perked up in the afternoon session to end the week on a high note.
The FTSE 100 finished the day up 53 points at 6552 and up 51 points on the week.
Index heavyweight ( was up 5.3% after a new court ruling that reduced the size of the firm’s 2010 oil spill in the Gulf of Mexico. The ruling means the British firm’s fine could be reduced by US$4bn.
As the oil price rallied others in the sector – most notably and – also returned to favour.
Miners also rallied with Glencore Antofagasta and the stand-out stocks.
Defensive favourite () headed 1.8% higher after Nomura upped its share price target for the fags maker.
FTSE 250 stock Fashion () was a high riser after the sportswear retailer raised its profit outlook for the full year following a strong Christmas. The shares advanced 6.7%.
Another company with a good Christmas under its belt is Peppa Pig and Scooby-Doo toy maker The Character Group (). Shares climbed around 7% as it said Christmas trading beat expectations.
Sefton Resources () shot up by two-thirds as it got subsidiary TEG USA off its hands. The primary asset of the subsidiary is the Tapia oil field in California while on the debit side it has an outstanding loan of around US$4mln which the new owner will take on.
Yesterday’s bombshell decision by the Swiss central bank to let the Swiss franc find its own level continues to have repercussions not least among the spread betting firms.
Publicly quoted London Capital Group () down 15.7% took a licking yesterday but said the impact on the company's balance sheet from market and credit exposure will be no more than £1.7mln.
Calamity has also befallen Pure Wafer () the silicon wafer reclamation specialist; shares fell 11.3% after the company updated on the fire damage suffered at its facility in Swansea.
Metallurgic testing has now concluded that elements of the building including parts of the structural steel framework and external roofing and cladding have been compromised by the fire and will need to be replaced.
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