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UK shares climb higher; Ferguson advances

UK shares climb higher; Ferguson advances
A trader monitors the screen on a trading floor in London January 22, 2010. REUTERS/Stefan Wermuth/Files -
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Stefan Wermuth(Reuters)
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(Reuters) – London’s FTSE 100 edged higher on Tuesday, starting the quarter on an upbeat note after a rebound in oil stocks and a rise in plumbing parts distributor Ferguson following its annual results.

The blue-chip index <.FTSE> added 0.3% and the FTSE 250 <.FTMC> gained 0.2% by 0705 GMT, partly helped by hopes that the final quarter of the year would bring resolution to the U.S.-China dispute as well as the protracted Brexit process.

The main index was also supported by a 2.2% gain in Ferguson <FERG.L> after the company posted a better-than-expected rise in full-year profit. Oil majors Shell <RDSa.L> and BP <BP.L> bounced back after trading lower in the previous session.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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