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FTSE buoyed by gains in AB Foods, trade hopes

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By Reuters
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   -   Copyright  Luke MacGregor(Reuters)

(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)