Oil firms add to strong FTSE showing

04/07/2005 - 13:20:28
Significant progress by blue-chip oil firms helped put the FTSE 100 Index on course for its fifth consecutive day of gains today.

A surge in the value of heavyweights BP and Shell and continued takeover talk surrounding broadcaster ITV left the Footsie within striking distance of the 5200 mark for the first time in more than three years.

The index stood 18.4 points higher at 5179.9 by lunchtime.

Further momentum was expected from New York this afternoon, with the Dow Jones Industrial Average expected to open around 14 points higher.