UK's FTSE 100 steadies after worst week since April as oil eases
EWU•The FTSE 100 rose 0.34% to 10,497.94 on Monday after its steepest weekly drop since April, while the FTSE 250 dipped 0.29% to 24,123.75. Brent crude fell 0.44% to $101.83 a barrel.
1. UK shares close mixed
The FTSE 100 rose 0.34% on Monday, steadying after its steepest drop since April last week. The midcap FTSE 250 fell 0.29%.
2. Oil and rate concerns
Brent crude futures slipped 0.44% to $101.83 a barrel as prospects of higher supplies kept prices in check. The article cited Middle East conflict and rising fuel costs as sources of investor concern; traders saw a nearly 97% chance of a Bank of England rate hike at its November meeting.
3. Company movers
Metals and mining shares rose 1.65% as copper prices increased for a second straight day. Ithaca Energy gained 2.2% after agreeing to acquire Suncor Energy's offshore oil assets for $842 million in upfront cash, while BT Group rose 1.4% after agreeing to buy TalkTalk for £400 million.
