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FTSE 100 reaches 5-week high

FTSE 100 reaches 5-week high
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The FTSE 100 has moved up to a five-week high after UK stocks advanced for the fourth consecutive day, it has been reported.

According to Bloomberg, the leading index on the British stock exchange had increased by 0.3 per cent to 5,877.42 at 14:08 GMT, after alternating between gains and losses more than 20 times.

One of the positives on the market were experienced by BP as it put on 3.2 per cent after selling fields in Pakistan to Hong Kong-based investment group United Energy Group Ltd.

The oil company moved up to 473.2 pence following the $775 million sale, which is part of its plan to help finance the Gulf of Mexico oil spill.

But there was bad news for Whitbread, which shed 2.5 per cent after it announced sales growth at its Premier Inn brand slowed.

This comes after the FTSE 100 neared a three-week high on Friday, the news provider reported.

Posted by Clive Arneil ADNFCR-1681-ID-800290720-ADNFCR