London's FTSE 100 advances on hopes of monetary stimulus

Credit: REUTERS/PETER NICHOLLS

UK blue-chips edged higher on Wednesday, buoyed by hopes of monetary stimulus from central banks as economic growth slows due to a prolonged trade war, while signs of a thaw in U.S.-China trade dispute also lifted sentiment.

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FTSE 100 up 0.4%, FTSE 250 up 0.3%

Financials, miners lead gains

GMS drops after delaying results

Sept 11 (Reuters) - UK blue-chips edged higher on Wednesday, buoyed by hopes of monetary stimulus from central banks as economic growth slows due to a prolonged trade war, while signs of a thaw in U.S.-China trade dispute also lifted sentiment.

The FTSE 100 .FTSE was 0.4% higher by 0713 GMT, while the midcap index .FTMC was up 0.3%.

Asia-facing financials and mining heavyweights .FTNMX1770 were powering gains for the main bourse after a report that China will introduce important measures to ease the negative impact of the trade war with United States.

Another news working in favour of multinational stocks was a move from China to exempt 16 types of U.S. products from additional retaliatory tariffs.

Smaller companies recorded some sharp moves in early deals, with Capital & Regional CAL.L jumping 15% after the company said Growthpoint Properties was in talks to buy a majority stake and Gulf Marine Services GMS.L plunging 13% after delaying results.

(Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

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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