StockMarketWire.com - Strong commodity prices including Brent crude oil surpassing $50 a barrel pushed the FTSE higher prior to the Federal Reserve chair Janet Yellen's last speech before the meeting of monetary policy makers in the US.

Underwhelming data on the US economy, including job creation, means the Fed may delay pushing up interest rates.

West Texas Intermediate (WTI) crude oil rose 2.1% to $49.64 and Brent crude oil was up 1.7% to $50.53 per barrel, respectively.

Gold increased 0.48% to $1,246.10 per ounce and copper advanced 0.9% to $ 4,695.93 per tonne.

The FTSE 100 closed over 1% up at 6,281.45 and the FTSE 250 was 0.72% higher at 17,190.92.

MAIN NEWS OF THE DAY

Beauty products supplier Swallowfield (SWL) said its operating profit increased and entered a conditional agreement to acquire The Brand Architekts. The company also announced a conditional placing to raise £8.6 million, which was oversubscribed. The trio of good news caused shares to shoot up 21.5% to 198p.

Biopharmaceutical firm Mereo BioPharma and Lebanese restaurant group Comptoir announced that they both plan to float on AIM in June.

MID CAP RISERS AND FALLERS

Pharmaceutical company Indivior (INDV) eased back 10.7% to 210p following last Friday's share price surge after winning a patent dispute.

SMALL CAPS RISERS AND FALLERS

The taxman continues to fight a VAT court case with Sportech (SPO) with HMRC appealing once more. Shares in the gambler retreated 6.7% to 69p.

Eastern European property developer Kimberly Enterprises (KBE) received a notice requesting the termination of a lease agreement for the Marina Dorcol project from the mayor of Belgrade, which could decrease liabilities and increase the value of its equity. The news pushed shares up 153% to 1.3p.

Eco Animal Health (EAH) received marketing authorisation for Aivlosin, water soluble granules that are designed for chickens producing eggs for consumption, from the European Medicines Agency. The approval triggered a share price rise of 3.3% to 403p.

Coating technology provider Hardide (HDD) said profit fell significantly in the six months to 31 March as a result of a global downturn in its core oil and gas market, causing its shares to drop 7.3% to 0.7p.

Software design company Cyan Holdings (CYAN) rose by 7% to 0.2p after its operating loss widened by more than £1.5 million in the year to 31 December 2015.

Digital entertainment solutions provider Amino Technologies (AMO) said trading was in line with market expectations and reported strong sales in Latin America, as shares advanced 7% to 108p.


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