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UK benchmark Index higher as oil nears one-month high

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The UK benchmark index looks set to open higher this morning, with oil prices gaining ground amid supply concerns. Tesco (LON:TSCO) will stay in focus as Nisa’s boss warned of ‘enormous pain’ as a result of the group’s proposed takeover of wholesaler Booker.

IG’s opening calls suggest that the Footsie will start the session 11 points higher at 7,333. The blue-chip index is likely to find support in stronger oil, with crude prices nearing a one-month high.

The FTSE 100 rose yesterday, adding 39.13 points to end the session 0.54 per cent higher at 7,321.82, lifted by stronger miners. Fresnillo (LON:FRES) was the session’s biggest blue-chip riser in percentage terms, adding 2.77 per cent to close at 1,595.00p.

Paul

The author Paul