LONDON: London’s mid-cap index rose on Tuesday to the highest in nearly three weeks after signs of progress in Brexit talks boosted market sentiment while the FTSE 100 ended flat as a stronger pound pressured the export-heavy index.
Britain and the EU are close to agreement on reciprocal social security rights for their citizens after Brexit, two diplomatic sources said, with one describing talks last week on an elusive trade deal as “one of the most positive so far”.
The FTSE 250 index, viewed as a barometer for Brexit sentiment, ended Tuesday’s session 1.2% higher and gained for the fourth session in five while the blue-chip index ended flat.
Frankie and Benny’s owner Restaurant Group gained 4.5% after it unveiled improved like-for-like sales numbers for the period since the start of July.
Premier Oil jumped 2.04% after it reached an all-share merger deal with oil exploration and production company Chrysaor.
“Majority of the optimism comes from hopes of fresh US stimulus measures following President Trump’s return to the White House while news of positive developments on the Brexit front also helped support investor sentiment,” said Connor Campbell, a financial analyst at SpreadEx.—Reuters
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