In London on Tuesday the FTSE 100 gained 0.24 percent to 6,044.1, while the FTSE 250 was up 0.1 percent to 9,785.2 as traders returned from the long holiday weekend.
Shares in companies related to the oil and gas industry were up as crude oil prices reached record highs. BP added 1.24 percent to 696½p, while BG Group was up 2.96 percent to 764p. Rumors of a takeover move against BG by ExxonMobil were again circulating.
Oil exploration group Burren Energy benefited not only from higher oil prices but also from an upgrade from UBS. The broker raised its recommendation on Burren to “buy” and set a target share price of £10.70. Burren added 9 percent to 996½p.
Elsewhere in the sector, Fortune Oil was up 14.2 percent to 6p on a deal to purchase 60 percent of a gas reserve in Shani Province, China, while Black Rock Oil & Gas added 29 percent to 1.47p after raising £1.3 million to invest in its Columbia operations.
Miners were also up on the day as metals prices were also up again. BHP Billiton was up 5 percent to £11.80, while Aim-listed China Goldmines added 72.3 percent to 127½p.
Property company British Land benefited from an upgrade to “buy” from UBS, gaining 4.7 percent to £12.77. Merrill Lynch also recommended that its clients buy shares in British Land, based on recent weakness in its share price as well as government plans to introduce tax efficient real estate investment trusts.