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Oil giants lift FTSE 100, trade uncertainty lingers

Published 13/05/2019, 08:53
Oil giants lift FTSE 100, trade uncertainty lingers
UK100
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BP
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SHEL
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CNA
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FTMC
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MTRO
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.1 pct; FTSE 250 down 0.5 pct
* Oil majors nudge main index up
* Centrica rises after Q1 trading update
* Metro Bank skids to life-low again

May 13 (Reuters) - Britain's FTSE 100 edged up on Monday,
led by oil heavyweights and as investors flocked to defensive
stocks on concern over the stand-off in Sino-U.S. trade
negotiations.
The FTSE 100 .FTSE was up 0.1% by 0720 GMT while the FTSE
250 .FTMC was down 0.5%.
Interest in stocks considered safe bets during uncertain
times was high as trade negotiations between Washington and
Beijing seemed to be at a deadlock. Oil majors Shell RDSa.L and BP BP.L gained as oil prices
rose on concerns about supply disruptions in the Middle East.
O/R
British Gas owner Centrica CNA.L added 2% after it
maintained its annual operating cash flow and net debt forecast
despite a challenging trading environment. Metro Bank MTRO.L , which has lost more than two-thirds of
its value this year, slipped 7.8% to hit another all-time low on
the mid-cap index.
It said on Friday its plan to raise equity was well
advanced, while a Financial Times report on Sunday said the bank
was looking to sell loans that were hit by an accounting error.

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