Rebound in banks, trade sentiment boosts FTSE 100; Metro Bank plummets

London's FTSE 100 moved higher on Tuesday, bolstered by financial stocks that rebounded from a sharp sell-off in the previous session and good news that U.S.-China trade talks would resume next month, while small-cap Metro Bank sank after scrapping a bond issuance. The main index added 0.2% by 0706 GMT. However, the more domestically-focussed FTSE 250 index shed 0.3%, ahead of a Supreme Court ruling on whether Prime Minister Boris Johnson's decision to suspend parliament was unlawful.

Mid-caps were dragged lower by a 4.7% drop in merchant bank Close Brothers after its annual profit fell and it said Chief Executive Officer Preben Prebensen would leave. Among smaller stocks, Metro Bank sank 12% as the troubled lender ditched a 250-million pound bond issue on Monday after failing to attract investors, while ad agency M&C Saatchi slid 8% after warning annual profit would fall 5%-10% below estimates.

Also Read: UPDATE 1-London's FTSE 100 gains on hopes of stimulus, trade resolution