FTSE lifted by commodities and Man Group

The FTSE rose today as commodity stocks received a lift while a series of positive corporate results helped to boost investor sentiment.

As G8 leaders gathered in France with the future leadership of the IMF and the eurozone debt crisis at the heart of the talks, global markets regained some lost confidence.

Investors once again turned to commodities, hunting for bargains after some slow sessions for the sector.

Metals group Lonmin was up 2.4 per cent, leading the top five climbers on the FTSE 100.

Insurer Aviva also climbed more than two per cent. Also in the insurance sector Old Mutual saw a boost, 2.14 per cent.

Man Group, the world's largest listed hedge fund manager, was up more than two per cent after reporting a rise in assets under management.

Lloyds shares gained almost two per cent as Virgin Money stepped up its bid interest in 600 retail branches which the British bank has been ordered to sell by regulators.

Miners also bounced back giving commodities a boost, with Anglo American rising 2.4 per cent.

British American Tobacco rose around two per cent after announcing a $452m deal for Colombian company Protobaco.

Water company United Utilities also edged up after reporting a profit rise.

On the down side Burberry lost two per cent despite reporting a 40 per cent rise in profit fuelled by demand across Asia. The fall was triggered by a flurry of profit taking.

Energy companies also took a hit as International Power and Cairn Energy saw their stock slip.

Asian stocks rose on close today boosted by the resources and consumer sectors.

In other corporate news India's Tata Steel warned rising raw material costs could hurt margins for a couple of quarters after posting its highest-ever annual net profit, bolstered by a surge in prices and demand.

Meanwhile the UK economic data a survey by CBI showed that companies in Britain's consumer service sector struggled in the first three months of the year.

However business services performed relatively well, the data found.