Brexit hopes, Sino-U.S. interim deal buoy UK shares

London's main index gained for the fourth straight session, as investors cheered a preliminary U.S.-China trade deal and hopes of clarity on Brexit after Prime Minister Boris Johnson's election win, while the mid-caps hovered near a record high hit in the previous session.

The FTSE 100 was up 0.8% by 0814 GMT, lifted by trade-exposed stocks such as HSBC and miners after U.S. Trade Representative Robert Lighthizer said a "phase-one" deal was "totally done". More domestically focussed blue-chip firms, including banks such as Barclays and Lloyds advanced more than 1% each as sentiment remained upbeat after UK Prime Minister Boris Johnson stormed to a victory in the general election.

The FTSE 250 rose 0.4%, after posting towering gains on Friday, amid hopes that the path to a Brexit deal would now be smooth. An 11% jump in Sports Direct after the company posted an upbeat first-half earnings also supported the index.