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Financials, miners lead FTSE 100 higher; Funding Circle slumps

Financials, miners lead FTSE 100 higher; Funding Circle slumps
FILE PHOTO: Traders look at financial information on computer screens on the IG Index trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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(Reuters) – Britain’s FTSE 100 climbed on Tuesday, as investors shrugged off the implications of weak U.S. manufacturing data and concerns over Washington’s trade deal with Beijing, while mid-cap Funding Circle tanked after cutting its revenue forecast.

The FTSE 100 <.FTSE> and the mid-cap FTSE 250 <.FTMC> rose 0.2% by 0706 GMT.

In early deals, the main index was partly boosted by financial stocks <.FTNMX8350>, which advanced for a third straight session, while gains in miners also supported the blue-chip bourse.

On the FTSE 250, Funding Circle <FCH.L> plummeted 24% to an all-time low after it halved its 2019 revenue growth forecast due to reduced demand for loans from its peer-to-peer lending platform.

But online trading platform Plus500 <PLUSP.L> jumped nearly 9% after posting higher second-quarter revenue, as signs of reduced levels of marketing across its peer group in part bumped up its customer numbers.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Arun Koyyur)

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