Optimism sees FTSE climb 100 points

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The London Stock Exchange has opened 1.7% or 100.9 points higher at 6000.9

Investors have showed their optimism over prospects for the new year by powering London’s FTSE 100 Index more than 100 points higher.

The market seized on a strong session in New York as the top flight recouped losses seen on New Year’s Eve to climb 1.7% or 100.9 points to 6000.9.

Robust manufacturing data and a strong session for financial stocks meant the Dow Jones Industrial Average closed almost 1% higher on Monday.

Asian stocks followed America’s lead as investors eyed the possibility of further progress in the recovery of the world’s biggest economy.

This global optimism meant oil prices hit 92 US dollars (£59) a barrel, near to a two-year high and triggering a share price rise of almost 5% for BP.

The beleaguered oil giant climbed 20.1p to 485.65p, while rival Royal Dutch Shell added 30.5p to 2146p.

Other significant risers included Royal Bank of Scotland, which recovered from weakness over Christmas, to lift 1.6p to 40.6p.

In corporate news, Blacks Leisure gave the retail sector an unexpected boost by posting December sales figures ahead of market forecasts.

The cold snap helped increase like-for-like sales in its outdoor business by 10.2% last month, despite strong comparative figures the previous year. Shares jumped 2p to 42p, a rise of 5%.

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