High oil price props up FTSE

The London market made steady progress today as sustained high oil prices helped the FTSE 100 Index recover some of yesterday’s near 3% slide.

High oil price props up FTSE
Wed, 21 May, 2008 - 12:25

The London market made steady progress today as sustained high oil prices helped the FTSE 100 Index recover some of yesterday’s near 3% slide.

Crude near the 130 US dollar a barrel mark saw strong gains for energy stocks, with miners also on firmer ground following a big sell off in the sector yesterday.

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