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British shares begin 2020 with gains; Tullow Oil sinks

Published 01/02/2020, 04:37 PM
Updated 01/02/2020, 04:40 PM
© Reuters.  British shares begin 2020 with gains; Tullow Oil sinks
UK100
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TLW
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FTMC
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FTNMX551030
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.8%, FTSE 250 up 0.3%
* Investors welcome China policy easing
* U.S., China to sign Phase 1 deal on Jan. 15
* Tullow Oil sinks after Carapa drilling results

Jan 2 (Reuters) - UK shares rose in the first trading
session of the new decade, as investors welcomed China's easing
monetary policy to support slowing growth and U.S. President
Donald Trump's setting a date to sign a trade agreement with
Beijing.
The FTSE 100 .FTSE advanced after two straight sessions of
losses to gain 0.8%, with all main sectors in the black. Mining
shares .FTNMX1770 led the gains after China, the world's top
metals consumer, cut the reserve requirement ratio for banks.
Sentiment was also bolstered after Trump announced a Jan. 15
deadline to sign a Phase 1 trade deal with China. The FTSE 250 .FTMC rose 0.3%. Tullow Oil TLW.L lagged,
slumping 17% after net oil pay at its Carapa-1 well offshore
Guyana came in below pre-drill estimates.

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