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CORRECTED-FTSE 100 hovers near 2-month high as BoE rate cut prospect hits pound

Published 27/09/2019, 13:26
© Reuters. CORRECTED-FTSE 100 hovers near 2-month high as BoE rate cut prospect hits pound
UK100
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PSN
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FTMC
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(Corrects to "globally" from "internally" in first paragraph)
* FTSE 100 up 0.8%, FTSE 250 up 0.5%
* Exporters gain as pound drops
* Persimmon up on Jefferies upgrade

Sept 27 (Reuters) - London's blue-chip stocks jumped to a
near two-month high on Friday, with the biggest support from its
globally-exposed components as sterling took a hit after the
Bank of England's first clear signal that it was looking at a
rate cut.
The FTSE 100 index .FTSE rose 0.8% at 0717 GMT to levels
not seen since Aug. 2 and set to cap off the week on a
surprisingly positive note despite growing political tensions.
The FTSE 250 .FTMC added 0.5%.
Hopes that a long drawn-out Sino-U.S. trade war might be
nearing a solution also helped sentiment after China said it was
in close communication with the United States over trade talks
next month. Among stock moves, Britain's second-largest homebuilder
Persimmon PSN.L inched up 1% after brokerage Jefferies said
Brexit risks were overplayed in the sector and upgraded the
stock.

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