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London's FTSE 100 advances on hopes of monetary stimulus

London's FTSE 100 advances on hopes of monetary stimulus
FILE PHOTO: A broker looks at financial information on computer screens on the IG Index the trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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(Reuters) – UK blue-chips edged higher on Wednesday, buoyed by hopes of monetary stimulus from central banks as economic growth slows due to a prolonged trade war, while signs of a thaw in U.S.-China trade dispute also lifted sentiment.

The FTSE 100 <.FTSE> was 0.4% higher by 0713 GMT, while the midcap index <.FTMC> was up 0.3%.

Asia-facing financials and mining heavyweights <.FTNMX1770> were powering gains for the main bourse after a report that China will introduce important measures to ease the negative impact of the trade war with United States.

Another news working in favour of multinational stocks was a move from China to exempt 16 types of U.S. products from additional retaliatory tariffs.

Smaller companies recorded some sharp moves in early deals, with Capital & Regional <CAL.L> jumping 15% after the company said Growthpoint Properties was in talks to buy a majority stake and Gulf Marine Services <GMS.L> plunging 13% after delaying results.

(Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur)

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