July 06, 2007: 12:00 PM EST
Shares of major oil companies advanced Friday in London, with Royal Dutch Shell hitting a multiyear high and rival BP gaining ground after the two got upgraded by Deutsche Bank analysts.
Miners were also making fresh highs as the trading week drew toward a close.
Broadly, London’s FTSE 100 indexclosed up 54.90 points, or 0.8%, to 6,690.10.
Royal Dutch Shell (RDSA) saw its shares advance 2.9% to 2,115 pence, just off a session high of 2,117. The shares haven’t traded at this level for two years.
Deutsche Bank upgraded Royal Dutch Shell to buy from hold, with the broker lifting its price target to 2,375 pence ($95.82 per U.S.-listed share), up from 1,925 pence previously.
“Our price-target increases reflect our view that the risks to our long-run oil price estimate of $45/barrel are now significantly to the upside. This implies that the rate of return fade is likely to mitigate over the coming years and suggests that we are now closer to a mid-cycle return than that typical of the peak,” the broker said.
Meanwhile, shares of BP (BP) increased 1.1% to 610.50 pence as it was also upgraded to buy from hold.
In a wide-ranging sector analysis, Deutsche Bank also raised its price target for gas-exploration firm BG Group (BRG) . The firm’s shares rose 2%.
In the energy pits, an oil price of more than $71 a barrel also helped support the sector.
And outside the FTSE 100, shares of oil explorer Cairn Energygained 5.9% after a Financial Times report that the World Bank has urged India’s government to move faster on a company oil project in Rajasthan.
Other European stock indexes also finished the week in the green, staying positive after key U.S. jobs data showed healthy employment growth in the world’s largest economy.
(END) Dow Jones Newswires
07-06-07 1200ET
Copyright (c) 2007 Dow Jones & Company, Inc.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
