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British blue-chip index tugged down by oil shares; IWG lifts midcaps

Oil heavyweights slip on a fall in crude prices and IWG jumps on sale of Japan business, CS rating hike.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

  • FTSE 100 down 0.1 pct
  • FTSE 250 up 0.2 pct
  • Oil heavyweights slip on a fall in crude prices
  • IWG jumps on sale of Japan business, CS rating hike
  • Financials gain after upbeat reports from JPM

London's main index was dragged into the red on Monday as oil majors weakened amid a dip in crude prices, offsetting gains in bank stocks, while office group IWG pushed midcaps higher after divestiture plans for its Japan business.

The FTSE 100 was 0.1 percent lower, while the FTSE 250 added 0.2 percent by 0720 GMT.

Shell and BP continued a three-day losing streak, following a dip in oil prices after a five-month high in the previous session despite support from concerns over global supplies.

IWG plc
403.00p 3.52%
Royal Dutch Shell Plc B Shares
2,282.00p -0.95%
BP Plc
493.55p -1.68%
Lloyds Banking Group plc
59.13p 12.27%
Prudential plc
1,508.5p 4.76%
Barclays plc
160.48p 7.56%
Energean Oil & Gas
927.00p 2.09%
Kier Group plc
119.2p 7.39%

Market closed | Prices delayed by at least 15 minutes
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Meanwhile, financials inched toward a 6-month high, lifted higher by a read-across from upbeat results posted by U.S. bellwethers JP Morgan and Wells Fargo last week. Strong bank loan data from China also aided.

Lloyds, Prudential and Barclays were among best blue-chip performers.

Midcaps recorded strong news-related moves in early trading.

Serviced office space provider IWG surged 20 percent to a two-year high after plans to sell its Japanese operations for 320 million pounds and a double upgrade from Credit Suisse on the stock.

Mediterranean-focused Energean Oil & Gas jumped over 10 percent to a record high after announcing new gas discovery at Karish North exploration well.

Builder Kier added nearly 3 percent as it said its newly appointed CEO planned to review the business to cut debt and respond to problems afflicting the wider outsourcing industry.

Copyright (2019) Thomson Reuters. Reporting by Yadarisa Shabong and Muvija M in Bengaluru; Editing by Alison Williams. This article was from Reuters and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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