Rolling coverage of the latest economic and financial news

8.44am GMT

A flurry of UK companies are reporting Christmas trading figures this morning.

Discount supermarket Lidl is toasting a “record” festive period. Total sales surged 17.9% in the four weeks to December 27, with the average basket up almost 25%.

Bubbly: Lidl says more than six million glasses of Pink Prosecco were enjoyed by their customers over the festive period. Cheers! pic.twitter.com/HZsg23S5PO

Lidl says Christmas sales up 17.9% based on same 4 week period year before. Basket size up 24.8%. Pink Prosecco did well with one million bottles sold. Premium range sales up 22%, too.

“Despite this Christmas being a difficult time for many across the country, we are pleased to have been able to help our customers enjoy themselves by offering high quality food at the lowest prices on the market.”

8.28am GMT

Shares in oil giants BP (+1.5%) and Royal Dutch Shell (+1%) have risen in early trading, following the rally in the oil price.

This has helped to lift the FTSE 100 by around 10 points or 0.15%, to 6764 (up 4.7% so far this year).

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