Copper miners, energy stocks pull FTSE 100 lower
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FTSE 100 down 0.2%, FTSE 250 up 0.1%
Energy stocks lead declines as oil prices slip
U.S. Fed Chair Powell's speech at Jackson Hole awaited
Aug 20 (Reuters) -UK's FTSE 100 benchmark stock index edged lower on Tuesday, pulled down by energy and copper miners' shares, while optimism around a September interest rate cut by the U.S. Federal Reserve limited losses.
The blue-chip FTSE 100 index .FTSE was down 0.2% by 0708 GMT, after it closed at its highest level since early August on Monday. The mid-cap FTSE 250 was up 0.1% by 0708 GMT.
Energy shares .FTNMX601010 were the biggest losers on the benchmark, declining 1% due to a drop in oil prices. Sector majors Shell SHEL.L and BP BP.L fell about 1%, each.
Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease supply disruption concerns in the Middle East and pushing oil prices lower. O/R
Real estate .FTNMX303010 and real estate investment trusts stocks .FTNMX351020 were among the top losers, declining 0.2%, each, after gaining on Monday.
Industrial metal miners .FTNMX551020 inched 0.3% lower as copper prices fell on short-covering after a rally in the previous session. MET/L
Antofagasta ANTO.L gained marginally after the Chilean miner posted a 5% increase in half-year profit.
On the flip side, precious metal miners .FTNMX551030 gained 0.5% as gold prices steadied near record highs. GOL/
Investors' focus is now on Fed Chair Jerome Powell's speech at the annual Jackson Hole economic symposium in Wyoming later this week.
The policymaker is widely expected to acknowledge the case for a September interest rate cut, after recent comments from Fed officials and economic data cemented bets for an imminent trim.
Purchasing managers index (PMI) numbers in the UK and U.S., alongside minutes of the Fed's last meeting are also on the market's radar in a relatively data-light week.
Wood Group WG.L slipped 1%, even after the oilfield services and engineering firm posted an 8.5% jump in its first-half adjusted core earnings.
Reporting by Purvi Agarwal in Bengaluru; Editing by Rashmi Aich
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