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FTSE 100 gains as pound dips on rising election chances

FTSE 100 gains as pound dips on rising election chances
FILE PHOTO: Traders looks 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) – London’s main index rose for a fifth straight session on Tuesday as weakness in sterling due to the growing risks of an election brought gains for some internationally-focussed stocks, while inkjet technology firm Xaar tanked after warning on results.

The FTSE 100 <.FTSE> was up 0.2%, outperforming its European peers and Asian markets that were bogged down by the U.S.-China trade tensions, and the FTSE 250 midcap index <.FTMC> also rose by the same measure by 0710 GMT.

Plumbing products company Ferguson <FERG.L> climbed 3%, taking the top spot on the main index, after saying it would separate its UK operations.

Among results-driven moves, Restaurant Group <RTN.L> tumbled 7% to the bottom of the FTSE 250 after posting a loss versus a year-ago profit, while small-cap XAAR <XAR.L> plunged 29% to a 10-year low after warning on annual results.

(Reporting by Muvija M in Bengaluru; Editing by Sriraj Kalluvila)

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