StockMarketWire.com - Rising oil prices helped the FTSE 100 climb 1.35% to 6,219.26 and the FTSE 250 by 0.61% to 17,135.67.

West Texas Intermediate (WTI) crude increased 1% to USD48.56 and Brent crude rose 0.52% to USD48.60 per barrel, respectively.

Gold cheapened 1.3% to USD1,234.80 per ounce, while copper was up 1.22% to USD4,585.69 per tonne.

MAIN NEWS OF THE DAY

Retail sales picked up slightly in May compared to a year ago after a decline in April, according to a survey by the Confederation of British Industry (CBI).

UK public sector net borrowing fell by GBP15.7bn to GBP76bn in the financial year ending March 2016, according to the Office for National Statistics, but this is GBP2bn more than expected.

Sales of new single-family houses in the US rose to a seasonally adjusted annual rate of 619,000 in April, according to the US Census Bureau and the Department of Housing and Urban Development.

Fifth District manufacturing activity slowed in May, according to a survey by the Federal Reserve Bank of Richmond. The general business assessment index fell from 14 to -1.

Germany's economy grew in the first quarter of 2016. Germany's final gross domestic product (GDP) growth for the first quarter of was 0.7%, which was in line with forecasts from the first quarter of 2015.

BLUECHIP RISERS AND FALLERS

Life insurer and wealth manager Old Mutual (OML) announced it has been approached by third parties to acquire its stake in OM Asset Management (OMAM), triggering a rise in the shares of 5.7% to 176.95p.

Home improvement retailer Kingfisher (KGF) said its total sales rose to GBP2,723m in the first quarter to 30 April and its share price was up 3.5% to 373.05p.

Coca-Cola HBC (CCH) fell 3% to 1,324p after Credit Suisse placed 5.4 million shares in the London-listed bottler on behalf of a private equity vehicle.

MID CAP RISERS AND FALLERS

Ground engineering specialist Keller (KLR) announced the volumes in its main markets in Asia Pacific are down compared to recent years, triggering a 4% drop to 930p.

Information technology company Aveva's (AVV) pre-tax profit fell 46% to GBP29.4m in the year to 31 March 2016 as a result of one-off costs of GBP15.2m. Shares fell 4.5% to 1,527p.

Refurbishment company Paragon (PAG) fell 5.1% to 307.2p despite pre-tax profit in the first half rising 11% as buy-to-let investors looked to beat April's stamp duty increase.

Greeting card chain Card Factory (CARD) suffered from lower footfall despite opening more stores, resulting in slower sales growth of 6.5% in the quarter ended 30 April, compared with 7.5% a year earlier. Shares retreated 3% to 369.45p.

SMALL CAP RISERS AND FALLERS

Pool betting operator Sportech (SPO) rose 12.6% to 80p after the Court of Appeal refused HMRC permission to appeal to the Supreme Court against its judgement in favour of Sportech.

Energy consumption solutions provider Cyan (CYAN) said it is considering its financing options to raise approximately GBP12.5m for a potential acquisition and working capital purposes, although terms of a potential placing have not been agreed. Shares fell 20% to 0.22p.

Asian Growth Properties (AGP) completed the disposal of the Dah Sing Financial Centre to Gao Sheng Global, boosting its shares by 22.8% to 56.5p.

Investing company Guscio (GUSC) returned to AIM, raising GBP1.5m in a placing and buying two technology businesses, Sportsdata and Dataplay. Shares dropped 53% from the opening price of 4p to 3.75p.

Private postal service UK Mail (UKM) was up 6.3% to 303.63p despite revenue sliding to GBP481m, as costs for a new automated hub took hold. However, the company is optimistic this investment will be beneficial in the second half of the financial year.

Home emergency repairs business Homeserve (HSV) said group profit was up 9% to GBP93m, a result of its seven million customers, boosting its share price 7.4% to 463.30p.

National retailer Topps Tiles (TPT) increased pre-tax profit and reduced debt in the 26 weeks to 2 April, following a rebranding that boosted customer numbers. Shares were up 2.7% to 134.75p.

Scientific and tech product company Scientific Digital Imaging (SDI) reported a small pre-tax profit for its first half, sending its shares 15.8% higher to 11p.

Indian power plants operator OPG Power Ventures (OPG) said it performed in line with market expectations and announced its maiden dividend for the year ending 31 March 2017. Shares climbed 3.3% to 69.75p.

Adhesive components producer Scapa (SCPA) revealed revenues grew to GBP246.7m in the year to March 31, which was supported by revenue increasing by more than a quarter from the healthcare division. Shares moved 2.8% higher to 252.75p.

Iron casting producer Chamberlin (CMH) fell 10% to 59p after revenues declined from GBP40.8m to GBP35m in the year ended 31 March, due to tougher trading conditions and with the strength of Sterling against the Euro.

International consultancy Porta Communications (PTCM) reported a headline pre-tax profit fall to GBP829,291 in the year to 31 December 2015, compared to GBP954,620 in the previous year. Shares slid over 6% to 5.75p.

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