FTSE 100 edges higher on strong Lloyds Bank, Shell earnings

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* FTSE 100 up 0.2%, FTSE 250 adds 0.1%

Oct 29 (Reuters) - London’s FTSE 100 inched higher on Thursday after a three-day selloff as Lloyds Bank and Royal Dutch Shell posted upbeat earnings, although gains were capped by concerns over surging COVID-19 cases and as a stronger pound pressured exporters.

The export-heavy FTSE 100 index climbed 0.2% with oil major Royal Dutch Shell Plc jumping 3% after posting a higher-than-expected quarterly profit and increasing its dividend.

The domestically focussed mid-cap FTSE 250 added 0.1% after housing minister Robert Jenrick said on Thursday a second national lockdown in Britain was not inevitable, even as a study by Imperial College showed England’s COVID-19 infections doubled every nine days.

Both the indexes suffered their biggest one-day decline in more than five weeks in the previous session amid a sharp selloff in Europe as Germany and France introduced new lockdowns.

Lloyds Banking Group Plc added 2.5% after the domestic lender posted a forecast-beating quarterly profit, boosted by a home-loan lending boom. (Reporting by Devik Jain in Bengaluru; Editing by Aditya Soni)


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