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* FTSE 100 up 0.5%, FTSE 250 up 0.2%
* Acacia jumps on Barrick's increased buyout offer
* Dovish comments from Fed officials spur rate cut hopes
July 19 (Reuters) - London's FTSE 100 posted broad gains on
Friday as brighter hopes of a U.S. interest rate cut fuelled
risk appetite, while mid-cap Acacia Mining soared after agreeing
to an increased buyout offer from Barrick Gold.
The blue-chip index .FTSE added 0.5%, with all sectors
trading in the black in early deals. The mid-cap FTSE 250
.FTMC rose 0.2% by 0704 GMT.
The FTSE tracked overnight gains on Wall Street and in Asian
markets, as two top Federal Reserve officials argued the need to
quickly stimulate the economy, cementing bets that the Fed will
cut rates at its July 30-31 policy meeting. Acacia ACAA.L surged nearly 17% to 218 pence and hit its
highest level since March after Barrick ABX.TO , its largest
shareholder, agreed to buy shares in Acacia it did not already
own at an implied value of 232 pence a share.
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Fed rate cut hopes power FTSE 100, buyout spurs Acacia
Published 07/19/2019, 03:24 PM
Updated 07/19/2019, 03:30 PM
Fed rate cut hopes power FTSE 100, buyout spurs Acacia
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