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FTSE rises by midday as oils offset weak miners

Mon Jul 7, 2008 4:19pm IST
 
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* FTSE 100 up 0.6 pct

* Oil shares gain with crude near record high

* Miners fall along with weaker metal prices

* Carphone Warehouse up after Goldman rates "buy"

By Dominic Lau

LONDON, July 7 (Reuters) - Britain's top share index edged up by midday on Monday, recovering part of the previous session's sharp losses, as near record oil prices boosted energy stocks, though miners tracked weaker metal prices.

By 1033 GMT, the FTSE 100 .FTSE was up 33.5 points at 5,446.3 after losing 1.2 percent on Friday. The UK benchmark index ended 2.1 percent down last week, marking its seventh straight week in retreat.

The FTSE 100 has fallen 15.6 percent so far this year.  Continued...

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Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 81.0 +2.21% 10/14 07:19 IST
Gold 851.2 +1.02% 10/14 07:38 IST