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UK stocks jump on stimulus prospects, election polls

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By Reuters
UK stocks jump on stimulus prospects, election polls
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   -   Copyright  SIMON DAWSON(Reuters)

(Reuters) – UK shares were pushed higher on Tuesday by Asia-focussed financials that rose after China’s surprise cut to a key lending rate and as general election hopes remained, while blue-chip Halma surged 7%.

The FTSE 100 <.FTSE> added 0.5% by 0814 GMT, led by safety equipment maker Halma <HLMA.L> after an upbeat half-year report, while the FTSE 250 <.FTMC> held at a 14-month high hit in the prior session on optimism ahead of the UK election.

The midcaps also rose 0.5% with Cobham <COB.L> gaining 4% after the British government said it is minded to allow Advent’s purchase of the UK-listed firm.

Lights manufacturer Dialight <DIAL.L> plunged 20.4% to its lowest in nearly a decade on the small-cap index after it warned on profit due to the U.S.-China trade war.

(Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)