FTSE up 0.6 pct; best weekly rise since Jan

Fri Jul 17, 2009 5:07pm BST
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* FTSE 100 registers fifth day of gains

* Markets boosted by Q2 earnings season in the U.S.

* Citigroup and BoA beat consensus estimates

* Crude oil price surges above $63/bbl, miners rise

By David Brett

LONDON, July 17 (Reuters) - London's top share index posted its fifth consecutive gain on Friday, as oils, miners and banks all rallied, with traders cheering better than expected corporate results from the United States.

The FTSE 100 .FTSE closed up up 26.91 points, or 0.6 percent, at 4388.75, securing its biggest weekly rise since early January.

U.S. banking giants Citigroup (C.N: Quote, Profile, Research) and Bank of America (BAC.N: Quote, Profile, Research) unveiled consensus-beating second-quarter earnings, following results from IBM (IBM.N: Quote, Profile, Research), Intel (INTC.O: Quote, Profile, Research), Goldman Sachs (GS.N: Quote, Profile, Research) and JPMorgan Chase (JPM.N: Quote, Profile, Research). [ID:nN16442895] [ID:nN16281387]  Continued...

 
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