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FTSE jumps on Sino-U.S. trade deal hopes; nationalisation risk hits BT

FTSE jumps on Sino-U.S. trade deal hopes; nationalisation risk hits BT
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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SIMON DAWSON(Reuters)
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(Reuters) – London’s FTSE 100 followed global peers higher on Friday as hopes of an imminent U.S.-China trade deal were rekindled by comments from a senior U.S. official, while BT slipped after Britain’s opposition party vowed to nationalise parts of the telecoms provider.

The main index rose 0.5%, boosted by miners <.FTNMX1770> as well as Asia-focused banks HSBC <HSBA.L> and Prudential <PRU.L>, after White House economic adviser Larry Kudlow said Washington was getting close to a trade pact with Beijing.

Shares of BT <BT.L> shed 2%, after Labour leader Jeremy Corbyn said his party would nationalise parts of the company’s network if it won power in the Dec. 12 election.

The mid-cap index <.FTMC> added 0.2% in early deals.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Subhranshu Sahu)

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