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Gains in oil majors lift FTSE 100

Gains in oil majors lift FTSE 100
FILE PHOTO: A broker reacts on the IG Index the trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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(Reuters) – London’s FTSE 100 rose on Wednesday as oil majors tracked gains in crude prices, while cautious investors awaited minutes of the U.S. Federal Reserve’s July rate-setting meeting for signs of further policy easing.

The main index <.FTSE> added 0.3%, boosted by Shell <RDSa.L> and BP <BP.L>, as a larger-than-expected drop in U.S. crude inventories pushed prices higher. The mid-cap FTSE 250 gained 0.2%% by 0707 GMT.

Persimmon <PSN.L> and other blue-chip housebuilders were lower in early deals after a Reuters poll showed the country’s property market would be further damaged by a potential no-deal Brexit, with average prices slipping about 3% nationally in the ensuing six months.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Arun Koyyur)

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