Miners, Oil Majors Boost FTSE 100 up ahead of Factory Data

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FTSE 100 up 0.4, FTSE 250 adds 0.4

June 1 Reuters Londons FTSE 100 index edged higher on Tuesday, helped by gains in heavyweight commodity stocks, while investors awaited a monthly reading on factory activity to gauge the pace of the countrys economic recovery.

The bluechip index rose 0.4, with base metal miners gaining 2.5 as they tracked higher copper and iron ore prices.

Oil majors BP and Royal Dutch Shell also added more than 0.5 each after Brent crude topped 70 on favourable demand outlook.

The domestically focused midcap FTSE 250 index advanced 0.4.

Wickes Group added 3.1 after the doityourself retailer said its sales had surged in April, resulting in total likeforlike growth in the 21 weeks to May 22 at 46 compared with the same period a year ago.

Mortgage lender Nationwide said British house prices jumped by an annual 10.9, the most in nearly seven years, and they look set to accelerate further as people seek new homes after the COVID19 pandemic. The wider homebuilders index rose 1.1.

Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V

Source Reuters

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