Around the World's Markets: London

Thursday 09 September 1999 23:02 BST

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STRENGTH IN leading oil stocks rescued the blue chip index, as the market languished in the wake of Wednesday's surprise rate rise and no clear lead from Wall Street.

The FTSE 100 index closed up 7 at 6,260.6, after a directionless session in which it moved in a narrow range of just 29 points.

Gains in heavyweight BP Amoco and Shell, up 2.4 and 3.4 per cent respectively, lifted the FTSE 100 21 points, as crude prices hit 31-month highs and oil stocks rose against a backdrop of rising rates.

Market report, page 25

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