* FTSE 100, FTSE 250 up 0.1%
* Oil majors biggest boost to main bourse
* Midcap retailer Ted Baker surges on M&A reports
(Adds company news, updates shares)
By Muvija M
July 22 (Reuters) - Gains in oil heavyweights amid heightened
tensions in the Middle East helped London's main index hold steady on
Monday, while Ted Baker was in demand after several media reports of
The FTSE 100 index of bluechip companies and the FTSE 250
midcap index both edged higher by 0.1%.
Oil majors Shell and BP rose about 1% each, tracking gains
in crude prices on concerns that Iran's seizure of a British tanker
last week may lead to supply disruptions in the Middle East.
Monday's gains in the midcap bourse were led by Ted Baker Plc
with a 13.5% jump, after a media report that its founder Ray Kelvin
could back a private equity buyout of the retailer, months after he resigned.
Tour operator TUI's London-listed shares rose 4.6%, topping the
FTSE 100 leader-board after Stifel resumed coverage on the stock with
a "buy" rating.
Just Eat added 2.3% after the online takeaway service said it
would lay off "a number" of jobs in Britain as it combined
its customer and restaurant operations.
Helped in part by expectations of interest rate cuts by central
banks, the exporter-heavy FTSE 100 has recovered from a slump it had
weathered in May due to global trade uncertainty, and is currently on
course for its best year since 2016.
The index, whose components roughly two-thirds of profits in the
U.S. dollar, has also benefited as Brexit jitters have pressured the
According to polls and bookmakers, Boris Johnson will become
Britain's new prime minister on Wednesday and will immediately face
the riddle that is Britain's Brexit negotiation.
"Watch for a harder tone on Brexit and the very clear message
that October 31st is a hard date. As previously argued, the reality of
parliamentary arithmetic may see this soften in due course,"
Markets.com analyst Neil Wilson said.
Metro Bank advanced 6% after the troubled mid-cap lender
confirmed a report that it was in talks on the sale of a loan
The stock has plummeted 70% so far this year as an accounting
error, which eventually led to a cash call and a warning on results,
has spooked investors.
Weighing on the main index was Whitbread , which lost 4.4% after
the company said it was not planning any further capital return to
Among smaller stocks, Petra Diamonds tumbled 9% after it
reported full-year revenue below analysts' estimates and said it
expects next year's production to be slightly lower amid weak demand
in the diamond market.
(Reporting by Muvija M, additional reporting by Shashwat Awasthi and
Samantha Machado in Bengaluru Editing by Shounak Dasgupta and Frances Kerry)
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