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FTSE 100 rebounds on trade optimism

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By Reuters
FTSE 100 rebounds on trade optimism
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)
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(Reuters) – UK blue-chips gained on Friday, bouncing back from a near two-month low in the previous session, on optimism over signs of progress in U.S.-China trade talks.

The FTSE 100 <.FTSE> rose 0.4% by 0808 GMT, with trade-sensitive financials and miners leading the recovery. The FTSE 250 midcap index <.FTMC> was also trading up 0.4%.

U.S. President Donald Trump’s comments that the trade talks were “moving right along” and China’s decision to waive imports tariffs for some soybeans and pork from the United States helped lift sentiment as a torrid week drew to a close.

Among stock moves, Primark-owner Associated British Foods <ABF.L> topped the main board with a 2% rise after it maintained its earnings target with anticipated progress in its sugar and grocery businesses.

(Reporting by Muvija M and Safia Infant in Bengaluru; Editing by Sriraj Kalluvila)