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UK shares bounce back after trade-driven losses

UK shares bounce back after trade-driven losses
FILE PHOTO: A broker reacts on the IG Index the 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 jumped almost 1% on Friday, recouping nearly all its losses from the past two sessions when uncertainty surrounding a U.S.-China trade deal had spurred selling.

The main index’s <.FTSE> surge was led by trade-sensitive scrips, including HSBC <HSBA.L>, oil stocks and miners, <.FTNMX1770> after China attempted to allay fears by saying it would strive to reach a “phase one” deal with the United States.

The FTSE 250 <.FTMC> added 0.4%, bolstered by industrial stocks, but gambling software maker Playtech <PTEC.L> and industrial thread manufacturer Coats Group <COA.L> underperformed due to lackluster annual forecasts.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu)

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