FTSE closes at 4309.1
Updated on 16 December 2008
The FTSE 100 Index has closed 31.5 points up to 4309.1 after heavyweight stocks rallied.
News of a less-than-expected decline in UK inflation figures - to 4.1 per cent - cheered the market along with early gains on the Dow Jones Industrial Average on Wall Street.
Prospector Tullow Oil shot up 48.5p to 620p and hit the top of the risers' board after a fresh find in Uganda.
But many other oil stocks eased as crude prices steadied at around $44 a barrel.
And miners eased on reports that struggling steelmakers were set to demand lower iron ore prices. Rio Tinto was the leading casualty in the sector, down 40p to 1501p or 3 per cent.
Private equity firm 3i Group was a leading loser in the top flight as shares dropped 13 per cent - or 35.5p to 243p - on general fears over the performance of its portfolio in the current climate.
Winners: Tullow Oil, ahead 48.5p at 620p, Aviva up 22p at 388.75p, FirstGroup up 18.25p at 392p and Drax Group up 23.5p at 539.5p.
Losers: 3i Group down 35.5p at 243p, Admiral Group off 117p at 883p, Man Group down 13.75p at 240p and the London Stock Exchange down 26p at 572.5p.
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