London’s FTSE 100 index climbed on Tuesday, led by gains in energy stocks as crude prices rallied, while shares of online grocer Ocado plunged on plans to boost its liquidity by over $1 billion.
The FTSE 100 firmed 0.3% by 0720 GMT, led by gains in energy stocks, as oil prices continued to rise amid tight supplies of crude and fuel products.
The sector has surged 40% this year as rampant supply anxieties outweigh headwinds around a potential recession.
The domestically focussed mid-cap FTSE 250 index also advanced 0.3%, led by Telecom Plus jumping 3.6%, following the multi-utility supplier’s full-year earnings release.
FTSE 100 falls for six straight sessions
Ocado fell 4.5% after the British online supermarket and technology group announced plans to boost its liquidity by over $1 billion to fund its growth.
Britain’s biggest rail strike in 30 years kicked off on Tuesday, as tens of thousands of staff walked out in a dispute over pay and jobs that could pave the way for widespread industrial action across the economy in the coming months.
Investors await UK consumer price data for May due on Wednesday, after inflation in April was seen surging to a 40-year high.
Comments
Comments are closed.