FTSE 100 tracks Asia gains on stimulus hopes; banks, miners shine

London's FTSE 100 rose on Friday, tracking gains in Asia as investors hoped for even more monetary stimulus to shore up a battered global economy against the backdrop of a potential policy gridlock in the United States. The blue-chip FTSE 100 index inched 0.1% higher, helped by banks, insurance, and mining stocks.

London's FTSE 100 rose on Friday, tracking gains in Asia as investors hoped for even more monetary stimulus to shore up a battered global economy against the backdrop of a potential policy gridlock in the United States. The blue-chip FTSE 100 index inched 0.1% higher, helped by banks, insurance, and mining stocks. The index was set for its best week since early-June.

The domestically-focussed mid-cap FTSE 250 index rose 0.7% after the European Union Internal Market Commissioner said there is a "50/50" chance of Britain and the EU securing a trade-deal. Global stocks eyed an all-time peak while the dollar and U.S. bond yields stayed sluggish, as U.S. Democrat Joe Biden edged closer to the White House hours after President Donald Trump falsely claimed the election was being "stolen" from him.

In company news, Beazley Plc added 1.6% even as the specialist insurer flagged an underwriting loss for the year and reiterated its pandemic-related loss estimate.