By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- London's top stock index ended with a
small gain Thursday after briefly topping the 6,000 level for the
first time since June 2008.
The FTSE rose 0.2%, or 12.58 points, to close at 5,996.07, after
gaining 0.5% in the prior session. The index set a session high at
6,000.55 in late action.
U.S. stocks pulled back some after a heavy round of data.
"With volumes thin and traders' thoughts turning to tinsel and
turkey, we could be set for a nail-biting finish to the week as the
U.K.'s blue-chip index gets agonizingly close to that much-lauded
6,000 level," said Will Hedden, sales trader at IG Index.
"Private investors have been pumping money into the stock market
this year -- if the FTSE does smash through the 6,000 barrier we
might see even the most risk-averse moving their money out of
savings accounts into equities," said Hedden.
Shares of BP PLC (BP) rose 1.4% as crude-oil futures settled
atop $90 a barrel in U.S. trading on Wednesday, a level not seen
since October 2008.
February futures for crude oil were last up 98 cents at
$91.46.
Sporadic gains were seen across the index, amid a dearth of
company news.
Tour operator TUI Travel PLC added 2.5% as airlines were able to
get more flights in the air and start to clear a backlog built from
many days of harsh wintry weather.
Retailer Kingfisher PLC rose 2.2% as shoppers were also expected
to make up for time lost over the weekend in which at least one
major shopping center had to close its doors and many stayed home
due to freezing temperatures and snow.
On the downside, shares of chip group ARM Holdings PLC (ARMHY)
fell 2.4%, retracing some of the hefty gains seen in the prior
session. Shares surged Wednesday on reports Microsoft Corp. (MSFT)
was on the verge of unveiling a new operating system, using ARM
technology.
Rio Tinto PLC (RIO) fell 1% after the company said it offered
A$16 per share for Australia-based Riversdale Mining Ltd . The
offer values Riversdale at A$3.9 billion ($3.92 billion).