Energy majors lift UK’s FTSE 100, M&S surges on profit upgrade

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* FTSE 100 up 0.4%, FTSE 250 up 0.3%

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Nov 10 (Businesshala) – London’s FTSE 100 climbed on Wednesday, led by oil majors as crude oil prices extended gains for a fourth straight session, as the British retailer posted strong gains and upgraded its annual forecast. Marks & Spencer followed suit. The mid-cap index advanced 0.3%, marking a 15.5% increase by Marks & Spencer to its highest level since January 2020, when the company beat first-half profit forecasts and for the second time this year Raised its full-year outlook.

The commodity-heavy FTSE 100 index gained 0.4% as crude oil prices firmed on an unexpected drop in global supplies, led by oil majors Royal Dutch Shell and BP with gains of 0.9% and 2.1%, respectively. .

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The UK’s largest bicycle retailer Halford Group plc jumped 12.1% after raising its full-year earnings forecast as supply chain disruptions began to ease. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Sherry Jacob-Phillips)

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