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London's FTSE 100 inches higher as Middle East tensions lift oil majors

Published 21/06/2019, 08:27
London's FTSE 100 inches higher as Middle East tensions lift oil majors
UK100
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BP
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SHEL
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FTMC
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IQE
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* FTSE 100 up 0.2%, FTSE 250 0.1%Oil majors biggest support
* IQE drops as Huawei curbs hits revenue

June 21 (Reuters) - Britain's blue-chip index inched up on
Friday as oil majors rallied amid concerns of supply disruptions
due to Middle East tensions, while semiconductor company IQE
plunged after warning 2019 revenue would be hurt because of the
U.S. ban on Huawei.
The FTSE 100 index .FTSE was up 0.2%, while the FTSE 250
midcap index .FTMC added 0.1% by 0709 GMT.
Oil majors Shell RDSa.L and BP BP.L rose slightly as
tensions in the Middle East escalated after a media report said
that U.S. President Donald Trump had approved military strikes
on Friday against Iran. IQE Plc IQE.L , which makes semiconductor wafers for chips,
slumped 37.2% and was on course for its worst day on record
after warning annual revenue would be lower-than-expected
because of U.S. restrictions on China's Huawei HWT.UL , which
is affecting orders.


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