Oil majors lift FTSE 100, Ferguson jumps on Peltz stake


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    * FTSE 100 up 0.1%, FTSE 250 flat
    * Ferguson jumps after Nelson Peltz takes stake
    * Tesco, M&S slips on main index
    * Just Group surges ahead of AGM

    June 13 (Reuters) - London's FTSE 100 edged higher on
Thursday as Ferguson surged to an eight-month high after
activist investor Nelson Peltz bought into the plumbing products
distributor, while oil majors recovered from steep losses in the
previous session.
    The FTSE 100  .FTSE  inched 0.1% higher, while the mid-cap
FTSE 250  .FTMC  was roughly flat by 0725 GMT.
    Ferguson  FERG.L  jumped 5.5% to the top of the main index
after Peltz's Trian Fund disclosed a stake of almost 6% and said
it would work with the company, formerly known as Wolseley, to
explore initiatives to create long term value for shareholders.
    Oil stocks provided the biggest boost to the index as crude
prices rebounded after slipping more than 3.5% on Wednesday.
    But stock market gains were limited by a 1.6% drop in Tesco
 TSCO.L  shares after Britain's biggest retailer said its
underlying sales growth slowed in the latest quarter.
    Peer Marks and Spencer  MKS.L  gave up 2.3% after the
clothing and food retailer said it received valid acceptances of
roughly 85.14% shares for a rights issue.  urn:newsml:reuters.com:*:nFWN23J0VT
    Just Group  JUSTJ.L  climbed 10% on the mid-cap index. The
specialist pension provider said in a statement ahead of its
annual general meeting that it was focused on delivering
"capital self-sufficiency" by 2022.

 (Reporting by Shashwat Awasthi in Bengaluru
Editing by Saumyadeb Chakrabarty)
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