Trade hopes buoy FTSE; Mothercare dives 38%

London's FTSE 100 joined a global stocks rally on Monday driven by rising hopes of a U.S.-China trade deal, while baby products retailer Mothercare sank to a record low after appointing administrators for its UK operations. The FTSE 100 added 0.4% as Asia-focussed banks HSBC and Standard Chartered as well as miners including Rio Tinto firmed after Washington and Beijing signalled they had made progress in trade talks.

The mid-cap FTSE 250 also advanced by 0.4%. Struggling retailer Mothercare, which has shut a third of its British stores in the past year due to intense competition from supermarkets and online retailers, sank 38%.