London stocks join global rally on recovery hopes; eyes on Brexit

London-listed shares followed global markets higher on Wednesday as optimism around working coronavirus vaccines raised hopes of an economic recovery, while investors also held out for a Brexit trade deal. The blue-chip FTSE 100 index was up 0.4% by 0804 GMT, led by energy, healthcare and mining stocks, with the MSCI world index tracking overnight gains on Wall Street.

The domestically focussed FTSE 250 index gained 0.3% and was on course to rise for a third straight session even as Prime Minister Boris Johnson warned the most likely outcome of trade negotiations with the European Union would be a no-deal Brexit. In company news, fashion retailer Superdry jumped 3.8% as it said interim Chief Executive Officer Julian Dunkerton would take the top job on a permanent basis and appointed industry veteran Silvana Bonello as its chief operating officer.