Glencore, Diageo lower (Il Sole 24 Ore Radiocor) - London, 29 Aug - Shares in London closed higher boosted by upbeat US data where second quarter GDP came in stronger than preliminary data at 3.0% from 2.8% while the latest weekly jobless claim report showed less people had filed for unemployment, underlining the resilience of the labour market.

The focus now shifts to tomorrow's PCE price index which could prove decisive in cementing of sinking growing hopes for a 50 basis point cut in interest rates September rather than just a quarter point.

Upbeat inflation data from Germany and Spain also helped.

Energy shares were once again a bright spot as crude prices continued to surge as exports from Libya fell dramatically amid heightened tensions in the country.

BP and Shell gained 0.74% at 434.75 pence and 0.56% at 2,711.00 pence, respectively.

Among individual stocks, Glencore and Diageo lost 1.10% at 400.10 pence and 1.21% at 2,489.00 pence, respectively as their shares started trading ex-dividend.

The London FTSE 100 closed up 0.43% at 8,379.64 points.

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(RADIOCOR) 29-08-24 18:22:12 (0497) 5 NNNN