London stocks track Asian gains on vaccine optimism

Credit: REUTERS/PETER NICHOLLS

London stocks tracked gains in Asian markets on Monday as investors bet on a COVID-19 vaccine before the end of the year, although concerns over tougher business restrictions in the UK kept demand for risky assets in check.

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FTSE 100 up 0.7%, FTSE 250 adds 0.3%

Oct 19 (Reuters) - London stocks tracked gains in Asian markets on Monday as investors bet on a COVID-19 vaccine before the end of the year, although concerns over tougher business restrictions in the UK kept demand for risky assets in check.

The blue-chip FTSE 100 .FTSE rose 0.7%, led by gains in banking .FTNMX8350, insurance .FTNMX8570, and aero .FTNMX2710 stocks, while the domestically-focussed mid-cap FTSE 250 index .FTMC added 0.3%.

Asian markets advanced toward a recent 2-1/2-year peak, also powered by hopes of a U.S. fiscal package. MKTS/GLOB

Investor focus is also on Brexit-related news, with Britain and the European Union set to revive negotiations on a post-Brexit trade deal later in the day.

In company news, Amigo Holdings Plc AMGO.L tumbled 25.3% after saying it had entered an Asset Voluntary Requirement (AVR) with Britain's financial watchdog, meaning the subprime lender will need approval to transfer assets outside of the group.

(Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V)

((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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