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UK's FTSE 100 Opens Higher on Mining, Energy Boost; Travis Perkins Slumps

  • FTSE 100 up 0.3%, FTSE 250 flat

June 16 (Reuters) - UK's benchmark FTSE 100 opened higher on Friday on a boost from energy and mining stocks, while a slump in top building materials supplier Travis Perkins following a profit warning pressured the mid-cap industrials.

The resource-heavy FTSE 100 was up 0.3% at 0718 GMT. The export-oriented benchmark index was on track for a weekly gain, underpinned by miners and a weak sterling .

Miners and energy stocks tracked crude oil and metals prices higher.

The FTSE 250 mid-cap index was listless.

Shares of Travis Perkins dropped 7.4% to a seven-month low after the British company flagged its profit would be hit by challenges in the country's housing market.

ASOS jumped 6.2%, extending gains from the previous session on a return to profitability, with RBC raising its price target on the online fashion retailer.

Investors keenly await domestic inflation data and a Bank of England rate decision due next week following a hawkish pause from the U.S. Federal and a 25-basis-point rate hike by the European Central Bank this week.

Reporting by Ankika Biswas in Bengaluru; Editing by Sherry Jacob-Phillips

Source: Reuters


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