Miners rise as metal prices gain ground
Deliveroo down on JPMorgan downgrade
Banks, retailers among top weekly performers
FTSE 100 up 0.1, FTSE 250 climbs 0.5

May 27 Reuters UK39;s FTSE 100 inched higher on Friday, putting the bluechip index on course for its best weekly showing since midMarch, although oil and gas stocks came under renewed pressure after the UK government39;s windfall tax plan this week.

The FTSE 100 rose 0.1, with most European markets looking set to end the week higher, taking heart from a Wall Street rally after the Federal Reserve minutes suggested it could pause its rapid rate hikes later this year.

UKlisted global miners such as Glencore, Rio Tinto and Antofagasta rose about 2 each as copper and iron ore prices were boosted by a weaker dollar.

However, oil majors such as BP and Shell slipped about 1 after Britain announced a 25 windfall tax on oil and gas producers39; profits on Thursday. 

Power generators such as SSE, Centrica and Drax dropped between 2.7 and 3.7, while Harbour Energy, the biggest UK North Sea oil and gas producer, dropped 6.7 and EnQuest fell 8.6.

The big shakedown will be how investors in the UK39;s oil and gas majors like BP and Shell will feel about windfall taxes, said Sophie LundYates, lead equity analyst at Hargreaves Lansdown.

While not a longterm problem for profits, the incentivisation to invest their profits could see dividends trimmed.

The domestically oriented FTSE 250 midcap index gained 0.5, with…