FTSE closes at six-month high

FTSE 100 Index closed through the 4700 barrier - up 41 points at 4731.6

The FTSE 100 Index closed at its highest level since early January as investors were cheered by a raft of results from corporate heavyweights.

Better than expected figures from the likes of BT, Rolls-Royce and BSkyB boosted the top flight while builders merchant Travis Perkins soared more than 13% in the FTSE 250.

The Footsie eventually closed up 84.1 points or 1.8% at 4631.6 - the best finish since January 6.

The benchmark index's recovery appears to be back on track after a blip on Tuesday that saw it narrowly miss out on a record-breaking 12-day rally.

Better than expected unemployment figures in the US added to the positive mix as the Dow Jones Industrial Average soared almost 2% in early trade. While in London, BT topped the Footsie risers board, ahead 14.2p to 126.9p, after it said there had been a quarter-on-quarter improvement in trading at its troubled IT services division.

It was followed close behind by engineering giant Rolls-Royce, which climbed 32.75p to 408p, as it reiterated its profits guidance for the financial year and boasted a record £57.5 billion order book. And BSkyB was another top gainer, up 27p to 546p thanks to news of a 4% rise in underlying annual earnings and continued improvement in net customer additions, up 35% year-on-year to 124,000 in the fourth quarter.

There were more results from drugs giant AstraZeneca, which cheered 29.5p to 2832.5p after it benefited from the withdrawal of generic competitors and upgraded its earnings forecasts for the year.

Higher mining stocks helped underpin the Footsie's advance after shares were helped by rising metal prices. Lonmin - also upgraded by Citi brokers - led the way for the sector with an 105p rise to 1360p. Other miners making firm headway included Antofagasta and Vedanta Resources, which added 54p to 762.5p and 114p to 1744p respectively.

Among the fallers, Reed Elsevier slid almost 13% after the LexisNexis firm announced plans for a share issue in order to pay down debt. Shares tumbled 60.25p to 420p. Meanwhile, British Gas firm Centrica was another faller, down 6.75p to 224.25p, after half-year group profits declined 5% to £936 million.

In the FTSE 250 Index, Travis Perkins jumped 95p to 795p as it posted a 27% drop in half-year profits but reported signs that some of its markets were beginning to stabilise. This helped heating and plumbing firm Wolseley move ahead in the top flight, with shares adding 121p to 1311p, or 10%.