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FTSE 100 Edges Higher In Lackluster Trade
(RTTNews) - U.K. stocks were moving higher on Friday, though a cautious undertone prevailed amid worries about surging prices and declining growth.
U.K. manufacturing lost more steam in June, with activity rising at the slowest pace in two years and new orders falling for the first time since January 2021, a survey showed.
The benchmark FTSE 100 rose 22 points, or 0.3 percent, to 7,191 after declining 2 percent on Thursday.
Shell rose about 1 percent as Russia moved to seize the rights to its gas project in Russia.
Miners Anglo American, Antofagasta and Glencore all fell over 1 percent after a slew of surveys showed Asian manufacturing activity stalled in June.
Gene and cell therapy company Oxford Biomedica surged 4.6 percent after it signed a new three-year master services & development agreement with AstraZeneca U.K.
Vertu Motors, an automotive retailer, added 1.7 percent after it acquired Wiper Blades Limited, an e-commerce business focused on on-line sale of car wiper blades and other products, for a cash consideration of 3.5 million pounds.
TUI jumped 5 percent. The travel and tourism company said it has again repaid state aid from the Corona program and also reduced credit lines.
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