London markets close on bullish note

The London market has finished the week on a bullish note with shares surging ahead as investor confidence improved.

By the close of trading, the Footise index of 100 leading stocks had shot up 102 points to 5188.6, marking the end of a generally upbeat week, which saw the index gain more than 170 points net.

Traders said the surge followed a remarkable recovery on the US market on Thursday night, which fed through into trading in America on Friday.

London shares were also lifted by stronger-than-expected GDP figures which showed Britain's economy grew by 0.6% in the last quarter.

Oil stocks gave a major boost to the market, with Shell 3% up, or 17p at 530p and BP rising 5% - up 26½p at 575½p.

Enterprise Oil also surged ahead, rising 12p to 517p.

Media groups were also ahead, led by advertising group WPP, which continued yesterday's rise, up 37½p to 628p - a 6% leap.

The group yesterday pleased the market by not reporting a profits warning when it released nine-month figures.

And after the market closed last night, WPP said it intended to appeal against the Takeover Panel's refusal to sanction its escape from a £434 million deal for media-buying group Tempus.

Other media stocks rising included Granada up 6p at 133p, United Business Media up 24½p at 465p, and Financial Times group Pearson 41½p higher at 823½p.