FTSE edges up on commodities; banks, Wolseley down (at Reuters)

FTSE 100 up 0.3 pct after Tuesday's steep losses * Oils track crude prices higher * Miners rebound, but banks stay weak * Wolseley falls after weak results, outlook By Dominic Lau LONDON, July 16 (Reuters) - Britain's top share index ticked up early on Wednesday after the previous session's steep losses, as oil stocks tracked higher crude prices and miners rebounded, but banks remained under pressure. By 0748 GMT, the FTSE 100 .FTSE was up 15 points, or 0.3 percent at 5,186.9 points after shedding 2.4 percent on Tuesday to hit its lowest close since October 2005. European shares also traded higher in early trade. "With a low level of visibility and very poor sentiment ahead of the second quarter reporting season, nobody prepares to place any bets to the upside," said Jeremy Batstone-Carr, head of private client research at... [read full story]