London's FTSE 100 inches higher as Middle East tensions lift oil majors

21 Jun, 2019

The FTSE 100 index was up 0.2%, while the FTSE 250 midcap index added 0.1% by 0709 GMT.

Oil majors Shell and BP rose slightly as tensions in the Middle East escalated after a media report said that U.S. President Donald Trump had approved military strikes on Friday against Iran.

IQE Plc, which makes semiconductor wafers for chips, slumped 37.2% and was on course for its worst day on record after warning annual revenue would be lower-than-expected because of U.S. restrictions on China's Huawei, which is affecting orders.

Copyright Reuters, 2019

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