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LONDON (Alliance News) - London main stock indices ended higher Wednesday, touching a new record intraday high, led by miners and oil-related companies, as European Central Bank President Mario Draghi ruled out making an early exit from the bank's monetary stimulus measures.

The FTSE 100 ended up 0.3% at 7,096.78, having hit a new record intraday high of 7,111.72 earlier in the session. The FTSE 250 finished up 0.1% at 17,873.53, also having hit a new record intraday high of 17,904.33. The AIM All-Share added 0.6% to 746.48.

European stocks also performed strongly with the CAC 40 in Paris closing up 0.7% and the DAX 30 in Frankfurt up 0.1%.

Draghi on Wednesday ruled out an early exit from the ECB's recently commenced quantitative easing programme, despite a pickup in the eurozone economy and data showing the threat of deflation in the single-currency region has receded.

"The implementation of our asset purchase programmes is proceeding smoothly," Draghi told a press conference after the ECB's governing council left its benchmark refinancing rate on hold at a historic low of 0.05%.

"Looking ahead, our focus will be on the full implementation of our monetary policy measures," Draghi said, adding that it was a premature to talk about any changes to the bank's EUR60 billion a month quantitative easing programme launched only six weeks ago.

He said the bank's government and private bond purchases "are intended to run" until the end of September next year or when consumer prices edge back up closer to the bank's annual inflation rate of just short of 2%.

Draghi's press conference was briefly but dramatically interrupted by a female protestor, who threw confetti and white sheets of paper over the ECB chief while chanting "end the ECB dictatorship". The woman was quickly bundled away by security guards, and Draghi resumed the press conference a short while later.

In the US, Wall Street was higher at the close of European stock markets, with the DJIA up 0.3%, the S&P 500 up 0.4%, and the Nasdaq Composite also up 0.4%.

Oil prices were trading higher, but were given a further boost by the weekly report from the US Energy Information Administration, which showed US crude oil inventories increased by 1.294 million barrels in the week ended April 8, while analysts expected an increase of 4.057 million barrels.

At London equity markets close, Brent oil traded at USD61.30 a barrel, continuing its momentum from Tuesday night when it initially passed the USD60 mark, while West Texas Intermediate traded at USD55.69 a barrel.

In London, oil-related companies were amongst the best performers in the FTSE 100. BG Group ended up 1.1%, BP up 1.1% and Royal Dutch Shell 'B' up 1.7%. FTSE 250-listed Tullow Oil finished up 8.7%, with its shares also boosted after Goldman Sachs upgraded it to Buy from Neutral. Meanwhile, Premier Oil ended up 6.2% and Cairn Energy up 2.8%.

Airlines easyJet, down 1.4%, and International Consolidated Airlines Group, also down 1.4%, were amongst the worst performers.

Meanwhile, mining stocks ended higher as hopes for more stimulus from the Chinese central bank were further supported after the world's second largest economy grew at its slowest pace since 2009. China's gross domestic product expanded 7.0% on the year in the first quarter of 2015, the National Bureau of Statistics said, meeting the expectation of economists. On an annualized quarterly basis, GDP gained 1.3%, below expectations for 1.4% growth and down from 1.5% in the fourth quarter.

The reading comes after much weaker-than-expected Chinese export and import figures on Monday.

Following Tuesday's gains, miners were again amongst the best performers in London stock indices. Fresnillo, up 2.2%, Glencore, up 1.9%, Anglo American, up 1.5%, and Antofagasta, up 1.1%, were amongst the FTSE 100 gainers. Meanwhile, Kaz Minerals, up 3.1% and Lonmin, up 2.2% were amongst the best mid-cap performers. The FTSE 350 mining sector index ended up 1.2%.

Fresnillo said Wednesday its gold and silver production increased sharply in the first quarter, putting it on track to achieve its 2015 production guidance. The Mexico-based precious metal miner said silver production in the three months to end-March was 12.4 million ounces, up 18.9% on the year as increased processed ore volume and higher ore grade at the Saucito mine more than offset lower production at the Fresnillo mine.

Outside mining and oil-related companies, J Sainbury, up 3.6%, was the best performer in the FTSE 100, followed by Sports Direct International, up 3.8%.

Meanwhile, Bunzl, down 2.6%, was the worst performer in the blue-chip index. The acquisitive distribution and outsourcing company said revenue rose 6% in the first quarter of 2015 from a year earlier, buoyed mainly by acquisitions as it also said it has bought a personal protection equipment company in Turkey. However, Shore Capital was disappointed by the results, saying it was expecting slightly higher growth.

JD Sports Fashion was one of the biggest FTSE 250 gainers, up 5.8%. The retailer reported growth in profit in its recent financial year, boosted by strong sales in sports fashion, and despite a difficult second half following a "very mild autumn and winter".

On the flip-side, Vesuvius ended as the biggest midcap faller, down 5.7%, after JP Morgan cut the company to Neutral from Overweight.

Virgin Money was the next worst performer, down 5.2%. Funds run by US investor Wilbur Ross and Stanhope Investments are looking to sell off a big stake in Virgin Money, the Financial Times reported. According to the FT, which cited people familiar with the situation, Ross and Stanhope Investments had been seeking to sell 45 million shares but the size of the offer increased to 60 million shares.

In the corporate calendar Thursday, Unilever releases first-quarter results, while SABMiller and Mothercare publish fourth-quarter trading statements. Diageo and Persimmon issue interim management statements, while WH Smith releases half-year results. Debenhams publishes half-year results, and e2v technologies issues a trading statement.

In the economic calendar, US housing starts and US Initial jobless claims are due at 1330 BST.

By Daniel Ruiz; danielruiz@alliancenews.com

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