Unilever jumps to over 7month high
Oil, mining stocks lead morning gains
Wickes slumps to record low
FTSE 100 up 0.7, FTSE 250 off 0.3

July 26 Reuters UK39;s top share index hit fourweek highs on Tuesday, bucking the trend in European markets, as an upbeat sales forecast from Unilever and gains in commoditylinked stocks overshadowed worries about an energy crisis in the continent.

The bluechip FTSE 100 gained 0.7, with oil major Shell and miner Glencore among the top boosts as commodity prices gained on the back of a softening dollar.

Unilever Plc shares climbed 2.9 to their highest in more than 7 months after the consumer giant raised its fullyear sales guidance as it hiked prices to counter soaring costs.

With the cost of living soaring, consumers are really having to make that choice around where they spend their poundeurodollar, said Nicola MorganBrownsell, fund manager at Legal General Investment Management. The majority will have to be on maintaining the basics in life.

Overnight, top U.S. retailer Walmart Inc slashed its profit forecast as surging prices for food and fuel prompted customers to cut back on discretionary purchases. 

Meanwhile, the main regional indexes in Europe slipped after Russia said it would cut gas supplies to Europe from Wednesday, stoking fears of an energy supply crunch at a time when investors are worried about a recession. 

We39;re favouring long defensives versus cyclicals within Europe with the idea being that if we have a…