UK shares set for weekly gains as oil prices retreat
EWU•The FTSE 100 rose 0.41% to 10,723.98 points and the FTSE 250 gained 0.71%, with both indexes on track for a second consecutive weekly gain as oil prices retreated.
1. UK indexes advance
The FTSE 100 and FTSE 250 rose on Friday, with banks and mining shares leading gains. Banks climbed 1.4%, precious metal miners gained 2.5% and industrial metal miners rose 1.3%.
2. Oil and energy shares
Oil prices retreated after two sessions of gains as investors weighed hopes of a U.S.-Iran truce against the risk that stepped-up Houthi attacks on Saudi Arabia could disrupt supply. Shell lost around 1% and BP fell 3%.
3. Company offer news
Harworth Group rose 4.9% after Goodweather Holdings raised its final offer to 187 pence per share. Capricorn Energy gained 12.4% after Genel Energy raised its cash offer to $436 million, topping a rival offer from DNO.
