Oil majors lift FTSE 100, Ferguson jumps on Peltz stake

Reuters

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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.
 urn:newsml:reuters.com:*:nL4N23K1O2
    Oil stocks provided the biggest boost to the index as crude
prices rebounded after slipping more than 3.5% on Wednesday.
 O/R 
    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)
 ((Shashwat.Awasthi@thomsonreuters.com; within U.S.+1 646 223
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