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UPDATE 2-FTSE 100 enjoys best day since July

Published 12/07/2019, 12:45 AM
UPDATE 2-FTSE 100 enjoys best day since July
UK100
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PRTP
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WPP
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BRBY
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ABF
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FTMC
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FTNMX551030
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MONC
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* FTSE 100 up 1.4%, FTSE 250 up 1.1%
* Banks, miners, exporters biggest boosts to main index
* Housebuilders gain on Halifax data
* Blue-chips still record worst week in 2 months

(Adds news items, analyst comments, updates to closing prices)
By Shashwat Awasthi and Muvija M
Dec 6 (Reuters) - Banks and miners propelled London's FTSE
100 to its best day in more than four months on Friday as
optimism around the Sino-U.S. trade talks rose, but recent mixed
signals on prospects of a deal still led the index to its worst
week in two months.
The main bourse .FTSE advanced 1.4% with gains across the
board, after slipping to a two-month low in the last session.
The more domestically-focussed FTSE 250 .FTMC rose 1.1%
and bagged its sixth straight week of gains.
U.S. President Donald Trump's comments that the trade talks
were "moving right along" and China's decision to waive imports
tariffs for some soybeans and pork from the United States lifted
sentiment as a torrid week drew to a close. Further support came from a robust U.S. jobs report that
showed growth increased by the most in 10 months in November,
soothing concerns about a slowdown in the world's largest
economy. "Forget Star Wars, this year's Christmas blockbuster is
today's non-farm payrolls report," Markets.com analyst Neil
Wilson said.
"A blowout jobs number sent equities higher along with the
U.S. dollar and Treasury yields as it shows the U.S. economy is
doing better than many corners of the market feared."
Notable blue-chip performers included ad firm WPP WPP.L
which climbed 3% on plans to return about $1.2 billion to
shareholders and Primark owner Associated British Foods ABF.L
added 2% after it maintained its earnings target. Luxury brand Burberry BRBY.L extended gains on improved
trade sentiment and after a report of French group Kering's
PRTP.PA potential takeover interest in Italy's Moncler
MONC.MI .
Housebuilders .FTNMX1770 , sensitive to Brexit jitters due
to their domestic exposure, jumped 1.4% after mortgage lender
Halifax said house prices rose in November at the fastest annual
rate in seven months. Despite the day's recovery, the FTSE 100 endured its
steepest weekly fall in two months, as Trump's indication that a
trade deal with China could only come following the 2020
election had knocked nearly 2% off the index on Tuesday.
Sterling's recent rally on optimism that next week's general
election in Britain will lead to a Conservative majority and
help deliver Brexit has also weighed on the exporter-heavy
bourse.
"This time next week the votes will have been counted and we
in the UK may finally have an idea on what's going to happen
with Brexit and who's going to lead it," OANDA analyst Craig
Erlam said.

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