UPDATE 2-British mid-caps advance as Brexit talks continue

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* AstraZeneca shares fall on $39-billion Alexion bill
* Codemasters shine on acquisition deal
* FTSE 100 down 0.23%, FTSE 250 adds 0.72%

(Updates to market close)
By Medha Singh and Shivani Kumaresan
Dec 14 (Reuters) - London's mid-cap stocks climbed on Monday
on bets that a Brexit trade deal between Britain and the
European Union was still possible, while drugmaker AstraZeneca
slid on a $39 billion buyout of U.S.-based Alexion
Pharmaceuticals.
The domestically focussed FTSE 250 .FTMC , considered a
barometer for Brexit sentiment, closed about 0.7% higher
although it was off its session highs with financial and
consumer discretionary stocks providing the biggest boost.
A strong pound took the shine off of the exporter-heavy FTSE
100 .FTSE , down 0.2% as London and Brussels agreed to "go the
extra mile" in coming days to try to reach an elusive trade
agreement. GBP/
"With the vaccine roll-out set to produce a marked pick-up
in growth from the second quarter onwards, markets should remain
well supported despite any worries over the deteriorating near
term outlook," said Rupert Thompson, chief investment officer at
Kingswood.
London's stock indexes have tracked a rally in global equity
markets as signs of working COVID-19 vaccines raised hopes of a
faster economic rebound next year. But gains have been capped by
fears around the near-term economic damage from business curbs
and mass layoffs.
London will move into England's highest tier of COVID-19
restrictions to fight an exponential rise in infection rates,
the government said. On Monday, Britain's trade body for manufacturing slashed
its 2021 growth forecast for the sector. In company news, AstraZeneca shares AZN.L sank 5.7% as
investors moved to price in the drugmaker's $39 billion deal for
biotech firm Alexion ALXN.O , one of this year's biggest
mergers globally. Codemasters CDM.L soared 22.4% after Electronic Arts
EA.O said it would buy the video game developer in a deal
worth $1.2 billion, trumping an earlier agreement between the
British company and rival Take-Two Interactive Software.
TTWO.O