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The FTSE 100 index in London is on track for a weekly gain, boosted by oil stocks. BP and Royal Dutch Shell are 2% and 1.2% ahead respectively on the back of a jump in oil prices. Brent crude has gained 3.4%, or $2.34, to $72.01 a barrel while US light crude has risen 3.3%, or $2.16 a barrel, to $68.67 a barrel.

Insurance stocks Prudential and Legal & General have both gained more than 1% after the German insurance giant Allianz raised its targets for shareholder returns for 2022 to 2024.

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