London stocks inch higher on mining and energy push; Vodafone slumps

  • FTSE 100 up 0.1%, FTSE 250 flat

June 8 (Reuters) – UK’s main stock indexes edged higher on Thursday, supported by a boost from mining and energy stocks, although a sharp drop in the shares of British mobile operator Vodafone capped gains.

The resource-heavy FTSE 100 (.FTSE) was up 0.1% as of 0718 GMT, while the domestically-focused FTSE 250 (.FTMC) midcap index was little changed.

Oil and gas (.FTNMX601010) and miners (.FTNMX551020) were the top sector gainers, while precious metals (.FTNMX551030) and chemicals (.FTNMX552010) took the worst hit.

Vodafone (VOD.L) was the biggest drag, falling 5% after hitting a one-week high on Wednesday, after Reuters reported citing sources that the company and Hutchison (0001.HK) are in the final stages of a merger agreement for their British operations.

Wizz Air (WIZZ.L) gained 1.8% after the European low-cost airline forecast a net profit of 350 million euros to 450 million euros ($374.57 million to $481.59 million) in its current financial year.

Crest Nicholson Holdings (CRST.L) dropped 3.7% after warning of further slowdown in the British housing market.

($1 = 0.9344 euros)

Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi Aich

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