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Shell, miners lift FTSE 100 ahead of U.S. jobs report

Reuters · 01/06/2023 03:36
Shell, miners lift FTSE 100 ahead of U.S. jobs report

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FTSE 100 up 0.3%, FTSE 250 off 0.3%


- Britain's FTSE 100 index hit a -month high on Friday, boosted by energy major Shell and other commodity-linked stocks, ahead of a crucial U.S. jobs report that could offer clues on the Federal Reserve's pace of interest rate hikes.

The blue-chip FTSE 100 .FTSE index rose 0.3%, extending gains to a fourth straight session, and on track for its biggest weekly jump in two months. The domestically focused FTSE 250 midcap stock .FTMC index fell 0.3%.

Shell Plc SHEL.L jumped 1.1% after it said earnings from its liquefied gas trading operations are likely to have been significantly higher in the fourth quarter of last year.

Miners took an early lead, with precious .FTNMX551030 and base metal .FTNMX551020 miners rising more than 1% each as the related commodity prices rose. MET/L

The market focus is on the monthly jobs report from the U.S. Labour Department due later in the day, which will be an important milestone in understanding where the Fed stands regarding its further monetary policy tightening.


(Reporting by Shashwat Chauhan in Bengaluru; Editing by Rashmi Aich)

((Shashwat.Chauhan@thomsonreuters.com;))


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