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FTSE 100 gains after U.S. eases Huawei sanctions, Galliford jumps

Published 05/21/2019, 03:31 PM
Updated 05/21/2019, 03:40 PM
FTSE 100 gains after U.S. eases Huawei sanctions, Galliford jumps
UK100
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HSBA
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 up 0.4%
* Asia-focussed financial stocks boost main index
* Builder Galliford jumps after job cuts

May 21 (Reuters) - Financial stocks with Asian exposure led
a recovery in London's FTSE 100 after the United States eased
restrictions on Chinese telecom giant Huawei, while mid-cap
builder Galliford Try surged after saying it would cut jobs.
The FTSE 100 .FTSE and the FTSE 250 .FTMC were up 0.4%
by 0715 GMT.
Heavyweights HSBC HSBA.L , Prudential PRU.L and Standard
Chartered STAN.L boosted the blue-chip index as markets hoped
that trade tensions between Washington and Beijing would be
eased. Oil majors Shell RDSa.L and BP BP.L were also supported
as escalating U.S.-Iran tensions and expectations that producer
club OPEC would continue to withhold supply this year pushed oil
prices higher. O/R
Galliford Try GFRD.L climbed 13.3% to the top of the FTSE
250 after the builder said it would cut up to 350 jobs as its
construction business focuses on its core strengths, bringing
hopes of improved margins.

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