LONDON, June 7 ― Sharp rises in Shell and BP shares helped Britain's main stock index gain for the fifth consecutive session today, as signs of a softening in the US-Mexico trade tensions lifted markets globally.
The FTSE 100 index added 0.5 per cent by 0711 GMT, with the FTSE 250 midcap index rising 0.2 per cent, led by iron ore miner Ferrexpo.
All but one sector in the blue chip index was in the positive territory with a rise in global crude prices pushing both oil majors around 1 per cent higher.
After the European Central Bank yesterday disappointed some with its moves towards policy stimulus, investors will focus on US jobs data expected later in the day for more signs on the scale of potential interest rate cuts in the world's biggest economy.
Tobacco stocks and consumer giants, considered safer bets at times of macro-economic uncertainties, were also in demand, however, in a sign of the continuing nerves over global growth that have dominated markets since the start of May.
Ferrexpo rose nearly 8 per cent after saying it expected first-half core earnings to rise “materially” on the back of higher pricing, production and sales volumes. ― Reuters
