FTSE rises boosted by oil stocks

The FTSE 100 index of leading shares opened higher today as rising oil and base metal prices boosted oil and mining stocks.

The FTSE 100 index of leading shares opened higher today as rising oil and base metal prices boosted oil and mining stocks.

Oil majors BP and Shell rose 0.7 and 0.6 per cent respectively after oil surged to $53 after falling temperatures in the US northeast spurred investor buying ahead of higher fuel demand in the top heating oil consumer region.

Mining stocks also rose, benefiting from rising base metal prices, with Antofagasta, BHP Billiton and Xstrata all adding more than 1 per cent.

Elsewhere, Japanese shares closed at a nine-month high as the yen sat near a four-year low to the dollar, while rising oil and metal prices boosted commodity stocks and pushed Australia's main index to a record.