The FTSE 100 has broken its record all-time high

North Korea's military manpower has increased and now ranks as the 23rd most powerful in the world- up from 35th in 2014

LONDON, May 15 (Reuters) - A bounce in oil and other commodities prodded stock markets higher on Monday, cushioning the hit to sentiment from a successful missile test by North Korea and a cyber attack that locked 200,000 computers in more than 150 countries.

"What should worry FTSE bulls is that the index is exhibiting similar characteristics to the S&P 500-namely that the rally is being powered by smaller and smaller numbers of rising stocks each day; this doesn't mean a correction is around the corner, but it does raise the prospect of a reckoning that could be ugly", said Chris Beauchamp, chief market analyst at IG, in a note. Oil prices were rallying with Brent crude, the worldwide crude benchmark, up 2.4% to $52.06 per barrel, and West Texas Intermediate, the United States benchmark, 2.5% higher to $49.01 a barrel at the time of writing.

Oil majors BP and Royal Dutch Shell rose in concert with European peers as crude prices jumped to $52 a barrel after Russian Federation and Saudi Arabia said supply cuts needed to last into 2018.

The FTSE 100 .FTSE was up 0.3 percent at 7,454.37 points at its close, having hit a fresh high of 7,460.20 points at the open.

MSCI's emerging markets benchmark also advanced 0.3 percent to a two-year high.

That drove a roughly 2.5 percent rise in oil prices, and spurred gains for copper and iron ore and in commodity-linked currencies including the Australian and Canadian dollars and Russia's rouble.

The Mexican peso strengthened 0.67 percent versus the US dollar at 18.68.

Shares in RWE rose almost 4 percent after the German utility posted core profit slightly above expectations, pointing to cost cuts and improved utilisation at its power plants division.

Current U.S. production is at 9.3 million bpd, up more than 10 percent since its mid-2016 trough. US gold futures gained 0.48 percent to $1,233.60 an ounce.

Shares of mining stocks rose alongside metals' gains, and the Stoxx Europe 600 Basic Resources Index bulked up 1.1%.

Chinese shares added 0.35 percent, after the government soothed market fears of tighter regulation saying bank risks were "completely controllable".

The dollar rose 0.1 percent to 113.39 yen, failing to make up most of Friday's 0.5 percent loss.

"The inability of the dollar to gain more. reflects the changing global landscape as recovery elsewhere drives rates and yields a bit higher".

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