Economic news

FTSE 100 Rebounds on Energy, Earnings Lift

  • FTSE 100 up 0.6%, FTSE 250 adds 0.4%

Aug 25 (Reuters) - London's main stock index bounced off two-week closing lows on Thursday, as investor sentiment steadied ahead of an annual conference of world central bankers and energy stocks got a lift from rising crude prices.

The blue-chip FTSE 100 index had gained 0.6% by 0710 GMT and was set to snap three straight sessions of losses.

Oil majors Shell and BP rose more than 1% each, as crude prices were supported by the prospect of tighter supplies amid disruptions to Russian exports and the partial shutdown of a U.S. refinery.

Also boosting the index, Ireland's CRH climbed 3.9% after the building materials firm reported strong first-half results.

The domestically exposed FTSE 250 index gained 0.4% after sinking to a more than one-month low in the previous session.

Hays Plc rose 6.3% after the recruitment agency reported a 128% jump in annual profit due to a rise in demand for new staff as employers rush to fill up vacancies.

Harbour Energy rose 7% after the UK North Sea's biggest oil and gas producer increased a share buyback programme by 50%.

Reporting by Johann M Cherian and Sruthi Shankar in Bengaluru; Editing by Subhranshu Sahu

Source: Reuters

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