Banks, energy stocks push UK’s FTSE 100 to one-week highs | Daily News Byte

Dec 22 (Reuters) – Britain’s blue-chip FTSE 100 rose to its highest level in more than a week, as strong gains in energy and financial stocks offset concerns about a slowdown in Britain’s economy.

The FTSE 100 (.FTSE), which includes major export-oriented companies, rose 0.3%, while the more domestically oriented FTSE 250 added 0.1%.

The energy sector (.FTNMX601010) rose 0.6%, tracking oil prices on tight crude stocks in the U.S., the world’s biggest crude oil importer.

Banks (.FTNMX301010) added 0.3% by 8:08 GMT.

Britain’s economic activity fell by a more than expected 0.3% in the third quarter, as a decline in manufacturing and construction dragged down the headline gross domestic product figure.

Among the losers, the real estate sector (.FTUB3510) fell 0.1%.

In company news, gas production at Shell’s ( SHEL.L ) Prelude floating liquefied natural gas site off Western Australia was suspended following a small fire. But, the oil giant added 0.6%.

Reporting by Johan M Cherian in Bengaluru; Editing by Eileen Soreng

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