FTSE 100 up 1.1, FTSE 250 adds 1.0
Shell up after Reuters reports plans to sell Malaysian gas station business
BP slips after missing earnings estimates

May 7 Reuters The UK39;s FTSE 100 cruised to a record high on Tuesday, coming off an extended weekend, boosted by Shell39;s jump on its plans to sell some Malaysian assets, while BP slipped after it missed earnings forecast.

The bluechip FTSE 100 index breached the 8,300 mark to hit a record high of 8,311.02 points. It was last up 1.1 at 8,304.28, looking to build on its record of finishing higher in 10 of the last 13 sessions.

Shell jumped 1.7 after Reuters reported the energy giant is in talks to sell its gas station business in Malaysia to Saudi Aramco, a day after the company said it would exit South Africa39;s downstream businesses.

Investors are clearly applauding Shell39;s kind of restructuring to focus on sectors that will offer steadier and cashrich, steady revenue streams in the future, said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

BP slipped 0.2 after the oil giant missed forecasts due to lower oil and gas prices and a U.S. refinery outage, but maintained the rate of its share buyback programme.

Precious metal miners gained 2.1 after the demand for safehaven assets increased as a ceasefire in Gaza remains uncertain.

Surveys showed British consumer spending softened in April, turning all eyes to the Bank of England39;s interest rate decision later this week.

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