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UPDATE 2-London-listed stocks stable ahead of Brexit trade deal talks

Published 12/09/2020, 06:07 PM
Updated 12/10/2020, 01:40 AM
© Reuters.
UK100
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TSCO
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(For a Reuters live blog on U.S., UK and European stock
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* Howden jumps as 2020 profit forecast impresses
* Johnson and von der Leyen to talk over dinner in Brussels
* FTSE 100 up 0.5%, FTSE 250 adds 0.4%

(Updates to market close)
By Medha Singh
Dec 9 (Reuters) - Stocks listed in London stabilized on
Wednesday ahead of talks that could decide whether or not
Britain ends 2020 with a messy no-deal exit from the European
Union.
The FTSE 250 .FTMC , considered a Brexit sentiment
barometer, was up 0.1% before a dinner meeting between British
Prime Minister Boris Johnson and European Commission President
Ursula von der Leyen aimed at breaking the deadlock.
"If no meaningful breakthrough occurs in Wednesday's meeting
... there will be a realistic chance of the UK leaving the EU
without a trade deal—or a no-deal Brexit," analysts at
investment advisory firm LPL Financial wrote in a note.
The blue-chip FTSE 100 .FTSE edged higher for the seventh
session, led by consumer discretionary and communication
services stocks, while Wall Street's indexes hit a record high
following positive vaccine news. MKTS/GLOB .N
The FTSE 100 has bounced from multi-year lows in March on
hopes of a vaccine-led recovery in business activity, but has
lagged European and U.S. peers as lockdowns hit the economy.
Data showed British employers recruited fewer permanent
staff during an England-wide lockdown in November, choosing
temporary workers to fill the gap instead. But with Britain this week becoming the first country to
begin mass vaccination against COVID-19, investors are betting
that business will return to normal sooner than expected.
Among the sectors to have weathered the coronavirus crisis,
shares in British kitchens supplier Howden Joinery Group
HWDN.L gained about 5% after it forecast 2020 pretax profit
well above analysts expectations. Meanwhile, food delivery company Just Eat Takeaway.com's
shares JETJ.L jumped about 7% after the Daily Telegraph
reported that it had recruited 1,000 riders.

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