Global finance crisis overshadows francophone summit (AFP)

AFP - The global finance crisis is to overshadow a summit of some 30 French-speaking nations Friday to Sunday in Quebec City, and Canada-EU trade talks on its sidelines, say organizers. Read more…

FTSE 100 closes higher (AFP)

29.08.2008 21:00 Business

LONDON (AFP) - London shares finished higher on Friday, with oil stocks making the biggest gains.

London's FTSE 100 index closed up 0.63 percent to close at 5,636.60 points.

Oil prices rebounded as Tropical Storm Gustav risked becoming a hurricane once more and threatening US energy production in the Gulf of Mexico -- where about a quarter of US crude oil installations are located.

The day's top performer was oil services provider Petrofac, up 31.50 pence -- or 5.07 percent -- to close at 652.50.

It was followed by energy services company Wood Group, which gained 21.50 pence -- or 4.72 percent -- to close at 476.75.

The day's biggest loser was pub group Enterprise Inns, down 11.25 pence -- or 3.57 percent -- to close at 303.50.

It was followed by coal power station group Drax, which lost 16.50 pence -- or 2.16 percent -- to close at 746.501.

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