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Oil majors support Britain's FTSE, Ted Baker up on M&A chatter

Mon, 22nd Jul 2019 08:26

(For a live blog on European stocks, type LIVE/ in an Eikonnews window)

* FTSE 100 largely unchanged, FTSE 250 down 0.1%

* Oil majors biggest boost to main bourse

* Ted Baker outperforms midcap index

July 22 (Reuters) - London's main index held steady onMonday as oil heavyweights rose amid heightened tensions in theMiddle East, while energy firm Centrica fell on reports of adividend cut and Ted Baker was in demand after multiple mediareports of takeover plans.

The FTSE 100 index of bluechip companies was flat at0710 GMT, while the FTSE 250 midcap index was 0.1%lower.

Oil majors Royal Dutch Shell Plc and BP Plcwere higher, tracking gains in crude prices on concerns thatIran's seizure of a British tanker last week may lead to supplydisruptions in the Middle East.

Energy company Centrica Plc slumped 1.5% after theTimes reported that the company was set to cut its dividend andput its oil and gas business up for sale.

Among midcaps, Ted Baker Plc added 3.2% after theTimes reported https://www.thetimes.co.uk/article/former-boss-ready-to-dress-ted-baker-for-private-party-xd6583zmkthat the company's founder Ray Kelvin was considering plans toback a private equity buyout of the company.(Reporting by Muvija M in Bengaluru; Editing by ShounakDasgupta)

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