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Election hopes support UK mid-caps, financials buoy FTSE

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By Reuters
Election hopes support UK mid-caps, financials buoy FTSE
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   -   Copyright  SIMON DAWSON(Reuters)

(Reuters) – British blue-chips held steady on Monday as financial stocks supported the index after its worst weekly performance in four, while mid-caps continued to benefit from polls ahead of a snap election in the country.

The FTSE 100 <.FTSE> was little changed by 0805 GMT. The FTSE 250 <.FTMC> outshone, rising 0.3% thanks to gains in the local currency on hopes that Conservatives will win the December election and deliver Brexit.

Stand out movers included IQE <IQE.L> which plunged 20% after the tech firm warned on results amid issues with two of its main customers, while Consort Medical <CSRT.L> sky-rocketed 44% and past the 10.1 pound a share bid from Sweden’s Recipharm <RECIb.ST>.

(Reporting by Muvija M in Bengaluru; Editing by Shailesh Kuber)