British stocks rise as China to cut some U.S. import tariffs

Published 06/02/2020, 09:27
Updated 06/02/2020, 09:36
British stocks rise as China to cut some U.S. import tariffs

(For a live blog on European stocks, type LIVE/ in an Eikon

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* FTSE 100 up 0.6%, FTSE 250 up 0.7%

* China to reduce tariffs on some U.S. imports

* Royal Mail skids after trading update

Feb 6 (Reuters) - UK shares advanced for the fourth straight

session on Thursday as risk sentiment picked up further after

China pledged to halve tariffs on some U.S. imports, though

Royal Mail slid to an all-time low after pointing to a

challenging year ahead.

China will cut additional tariffs levied against 1,717 U.S.

goods last year, after a Phase 1 trade deal was signed last

month, and as fears persist over the coronavirus outbreak, which

has killed more than 550 people. The FTSE 100 .FTSE jumped 0.6%. Caterer Compass Group

CPG.L reported higher quarterly revenue and was among the top

gainers. The FTSE 250 rose 0.7%, boosted by an 8% rise in

insurer Beazley as its 2019 profit surged. Royal Mail RMG.L sank 10% after it warned outlook for the

2020-21 fiscal year was "challenging" and said the threat of a

labour strike in late 2019 hurt parcel revenue growth during the

Christmas period.

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