By Atul Prakash and Alistair Smout
LONDON (Reuters) - Britain's blue-chip share index climbed to a six-week high on Wednesday, helped by gains for energy companies following a rise in oil prices and by education and media group Pearson (L:PSON) which said it expected to return to growth in 2015.
The benchmark FTSE 100 index (FTSE) rose for a fifth straight session and was up 0.7 percent at 6,665.33 points by 1148 GMT after hitting an intra-day peak of 6,671.97, the highest since early December.
The UK Oil and Gas index (FTNMX0530), up 1.1 percent, led the sectoral gainers, tracking a rise of about 1.5 percent in crude oil prices
"We are witnessing a relief rally as stronger oil prices have prompted some people to build positions in energy stocks. Investors are also positioning ahead of tomorrow's likely announcement of a bond-buying programme by the European Central Bank," said Mike Jarman, chief strategist at H2O Markets.
Money market traders polled by Reuters have said the ECB is likely to announce a 600 billion euro sovereign bond-buying programme on Thursday. Calls for such a step have escalated since inflation turned negative in December.
Among the day's sharpest movers, Pearson (L:PSON) was the top FTSE 100 gainer, adding 4.5 percent, after the group said it expected adjusted earnings per share of between 75 and 80 pence in 2015, up from the 66 pence it expects for last year.
"The desire for education materials has driven them on, continuing a pretty impressive performance they've had over the last 12 months," said Alastair McCaig, market analyst at IG.
British telecom firm BT Group (L:BT) rose 1.9 percent, outperforming the broader market. Traders cited a report in German Manager Magazine saying that Deutsche Telekom (DE:DTEGn) and BT were discussing partnerships between their enterprise businesses and in procurement.
Among big fallers, Sports Direct (L:SPD) slipped 4.7 percent after founder Mike Ashley cut his stake in the retailer to 55 percent. Engineer Weir Group (L:WEIR) fell 3.5 percent after JP Morgan cut its stance on the stock to "underweight" from "neutral".
Mid-cap oil producer Afren (L:AFRE) slumped 17 percent after saying it was reviewing its capital expenditure budget and talking with lenders to amend credit facilities.