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Last Updated: Thursday, 5 October 2006, 16:47 GMT 17:47 UK
FTSE 100 index ends above 6,000
The headquarters of the London Stock Exchange
The stock market last closed above 6,000 in May
London's main FTSE 100 share index closed above 6,000 on Thursday, the first time it has ended above the key psychological level since May.

Boosted by record highs this week on the Dow Jones in New York, and takeover talk in the steel sector, the FTSE 100 finished up 38 points to 6,004.5.

Steel group Corus was the biggest riser, up 16% after Indian firm Tata said it was considering a takeover bid.

The FTSE was also helped by the Bank of England keeping rates on hold at 4.75%.

However, the Bank's decision had been widely expected.

Cooling oil prices

Mining stocks also enjoyed strong gains on Thursday owing to continuing increases in global metal prices.

Among the mining stocks, BHP Billiton was the biggest riser, gaining 4%, followed by Rio Tinto, up 3.6%.

In the US the Dow Jones has been benefiting from cooling oil prices and reduced inflation fears.

The FTSE's record high of 6,950 was set in December 1999.




SEE ALSO
FTSE stays the same after review
08 Mar 06 |  Business
FTSE breaks through 6,000 barrier
17 Mar 06 |  Business
FTSE briefly hits four-year high
23 Dec 05 |  Business
FTSE 100 index closes at 5,000
10 Feb 05 |  Business

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