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

Published 15/04/2019, 05:50 pm
British blue-chip index tugged down by oil shares; IWG lifts midcaps
UK100
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BARC
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BP
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LLOY
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PRU
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SHEL
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CSGN
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KIE
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IWG
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WFC
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FTMC
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FTNMX301010
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ENOG
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(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* 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

April 15 (Reuters) - 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 .FTSE was 0.1 percent lower, while the FTSE 250 .FTMC added 0.2 percent by 0720 GMT.

Shell RDSa.L and BP BP.L 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. O/R

Meanwhile, financials .FTNMX8350 inched toward a 6-month high, lifted higher by a read-across from upbeat results posted by U.S. bellwethers JP Morgan JPM.N and Wells Fargo (NYSE:WFC) WFC.N last week. Strong bank loan data from China also aided.

Lloyds LLOY.L , Prudential PRU.L and Barclays BARC.L were among best blue-chip performers.

Midcaps recorded strong news-related moves in early trading.

Serviced office space provider IWG IWG.L 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 (SIX:CSGN) on the stock. Energean Oil & Gas ENOG.L jumped over 10 percent to a record high after announcing new gas discovery at Karish North exploration well.

Builder Kier KIE.L 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.

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