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FTSE buoyed by gains in AB Foods, trade hopes

FTSE buoyed by gains in AB Foods, trade hopes
Traders sit at their desks at IG Index in London September 9, 2014. REUTERS/Luke MacGregor/Files -
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Luke MacGregor(Reuters)
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(Reuters) – London’s FTSE 100 was lifted by a near 5% jump in Primark owner A.B. Foods following its strong forecast on Tuesday, while miners gained on brighter hopes of a U.S.-China trade deal.

The FTSE 100 <.FTSE> rose 0.1% by 0810 GMT, holding at a one-month high it touched in the previous session, while the midcap index <.FTMC> dipped 0.1% due to a sell-off in industrial stocks after Weir Group’s <WEIR.L> underwhelming outlook.

Associated British Foods <ABF.L> was on track for its best day in more than 10 months after it posted higher annual earnings and said it was well-positioned for further earnings growth in the new 2019-20 year.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Saumyadeb Chakrabarty)

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