London Stocks Jump as China Data Fuels Recovery Hopes

Dec 1 (Reuters) – London-listed stocks jumped on Tuesday as bets of a working COVID-19 vaccine and upbeat factory activity data from China fuelled hopes of a global economic recovery.

The blue-chip FTSE 100 was up 1% as data showed China’s factory activity accelerated at the fastest pace in a decade in November. Asia-focussed banks and trade-reliant miners were among the top boosts to the index by 0819 GMT.

The domestically focussed FTSE 250 added 0.9%, as attention turned to Brexit trade talks with the UK set to leave the European Union within weeks.

Negotiations are still stuck on fishing, governance rules and dispute resolution because the European Union is asking too much, British Prime Minister Boris Johnson’s Brexit supremo, Michael Gove, said on Tuesday.

Meanwhile, the FTSE homebuilders index rose 1% as data showed British house prices rose by the most in nearly six years in November.

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

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