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FTSE 100 set to gain for second week on hopes of Brexit, U.S. stimulus

London's FTSE 100 rose on Friday, en route to a second consecutive weekly gain, as hopes of a Brexit deal and U.S. stimulus package eclipsed worries about a fresh surge in COVID-19 cases that risks derailing an economic recovery. The blue-chip FTSE 100 index climbed 0.4%, with mining and oil stocks leading the gains.

Reuters | London | Updated: 09-10-2020 12:56 IST | Created: 09-10-2020 12:52 IST
FTSE 100 set to gain for second week on hopes of Brexit, U.S. stimulus
Representative image Image Credit: ANI

London's FTSE 100 rose on Friday, en route to a second consecutive weekly gain, as hopes of a Brexit deal and U.S. stimulus package eclipsed worries about a fresh surge in COVID-19 cases that risks derailing an economic recovery. The blue-chip FTSE 100 index climbed 0.4%, with mining and oil stocks leading the gains. The mid-cap index added 0.3%.

Capping gains, however, was a slower-than-expected growth in Britain's economy in August from July, official data showed on Friday. Real estate firm British Land rose 4.5% to the top of the FTSE 100 after saying it would resume paying dividends in November and that it was in active talks with its tenants over rent payments.

TP ICAP, the world's biggest inter-dealer broker, gained 0.9% on furnishing plans to raise about $425 million through a rights issue and agreed to buy electronic trading network Liquidnet Holdings for a revised consideration of between $575 million and $700 million.

Also Read: Teenage British activist stages climate protest on Arctic ice floe


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