Sky high oil prices fuelled a positive session on the London market today, as a series of energy stocks racked up gains.

News that the Bank of England may hike interest rates added to market woe caused by higher oil prices and the weak dollar today.

Brewer Scottish & Newcastle today reported positive summer sales for its UK business despite poor weather and weaker off-licence trade following Euro 2004.

Top-flight players ranging from banks and insurers to brewer Scottish & Newcastle and miner Anglo American will be updating the market during a busy few days for corporate news this week.

Brewer Scottish & Newcastle today said annual profits at its UK business would top last year thanks to better-than-expected market conditions in the pub trade.

Brewer Scottish & Newcastle today said encouraging sales of its leading beer brands had boosted the business during a year of transformation.

Brewer Scottish & Newcastle was today considering a move to establish a foothold in the fast-growing Chinese beer market.

The London market has ended the day with its head above water thanks to rises in tech and telecom stocks.