MARKET REPORT

LONDON’S blue-chip index hit a record high yesterday as rising oil prices helped lift UK stocks. The FTSE 100 ended the day up 53.77 points at 7,787.97.

It came on the back of a rise in Brent crude prices, which rose 0.79% to 79.92 US dollars per barrel in afternoon trading. It marked a new 42-month high for the commodity, sparked by the prospect of lower global supplies as the US walks away from the nuclear deal with Iran.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: “The death of the bull market has been greatly exaggerated, not for the first time in recent history. The FTSE did endure a shaky start to the year, but after two months of steady climbing, has now regained and surpassed its previous high.”

Across Europe, the French Cac 40 and Germany’s Dax were up 0.98% and 0.91%, respectively.

In currency markets, the pound was flat against the dollar at 1.350, but rose 0.1% against the euro to 1.145.

Bookies were sold off in morning trading after the Government announced it would cut the maximum stake on fixed-odds betting terminals to £2. However, stocks including

and made gains in the afternoon, closing up 13.3p at 330.8p and 155p at 8,405p respectively.

shares jumped to an all-time high after the online grocer announced its fifth international deal, partnering with US grocery retailer Kroger. Under the terms of the agreement, Ocado’s technology will be used in the US exclusively by Kroger, with the US firm also taking a 5% stake in the London listed group. Shares closed the session up 44.42% or 245.2p at 797.2p.

jumped to the top of the FTSE 100, rising 95.5p to 1,804.5p after it announced plans for a 400 million US dollar share buyback. shares suffered, falling 42.8p to 555p after outgoing boss Moya Greene reported a 37% fall in bottomline pre-tax profits to £212m for the year to March 25 due to a pension charge.

The biggest risers on the FTSE 100 were up 95.5p at 1,804.5p, up 31.6p at 864.1p, up 60p to 1,928p, up and

9.1p at 297.3p.

The biggest fallers on the FTSE 100 were down 42.8p to 555p,

down 30.5p to 1,941p, down 10p at down 8.9p at 671p and 729.9p.