Jinet this Reuters' article last night explains somewhat the TLW sp 3.8% rise to a new high of 1456p and close at 1452p, being attributed to Teak-1 find and subsequent Barclays and Deutsche revaluations accordingly to last paragragh below:
LONDON, Feb 11 (Reuters) - Commodity and banking stocks drove Britain's FTSE 100 share index higher on Friday as traders welcomed the decision of the Egyptian President Hosni Mubarak to resign.
Egypt's Vice President Omar Suleiman said in a televised statement on Friday that President Hosni Mubarak had bowed to pressure from the street and resigned, handing power to the army.
"The market has taken the news well. It has cleared some uncertainty and boosted investor sentmient," Jimmy Yates, head of equities at CMC Markets, said.
The FTSE 100 index .FTSE closed up 42.89 points, or 0.7 percent, at 6,062.90, bouncing off a session low of 5,973.44.
Miners .FTNMX1770 and energy .FTNMX0530 stocks rallied on the news from Egypt. Mid cap miner Centamin Egypt (CEY.L), with significant operations in the region, reversed a loss of more than 5 percent to gain 6.4 percent.
Anglo American (AAL.L), which is due to report earnings on Feb. 18, added 3.4 percent after De Beers, the world's largest diamond producer, returned to profit. [ID:nLDE71921B]
Anglo American said it would post underlying earnings of $302 million for the year from its investment in De Beers.
Energy heavyweight BG Group (BG.L) climbed 3.5 percent, hitting an all-time high during the session, with traders citing technical factors and its M&A potential.
"We like their outlook for next year and yield. They do continually have takeover speculation. I think the portfolio and exposure to Brazil makes them very attractive to the majors," Martin Dobson, head of trading at Westhouse Securities, said.
Oil explorer Tullow Oil (TLW.L) rose 3.8 percent as Deutsche Bank and Barclays Capital upped their respective target prices on the stock, following an oil discovery at one of its interests in Ghana on Thursday.
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