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UK shares gain broadly, Thomas Cook tanks

Published 12/08/2019, 08:24
Updated 12/08/2019, 08:30
© Reuters. UK shares gain broadly, Thomas Cook tanks
UK100
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TCGI
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TLW
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 up 0.6%
* Banks, oil majors biggest boost
* Thomas Cook slumps 30%
* Tullow Oil biggest FTSE 250 gainer

Aug 12 (Reuters) - London's FTSE 100 rebounded on Monday
after suffering its steepest five-day drop since May last week
over worries of a prolonged U.S.-China trade war, while tour
company Thomas Cook plunged after updating on its
recapitalisation plans.
The FTSE 100 index .FTSE was up 0.6% by 0715 GMT, with the
midcap index .FTMC also gaining 0.6%.
The blue-chip bourse got its support from gains in
Asia-exposed financial stocks and oil majors in a broad-based
recovery, tracking rises in China after Beijing showed support
for its capital markets by relaxing margin financing.
Thomas Cook TCG.L , the world's oldest travel company,
tanked nearly 30% after saying its existing shareholders were
expected to be significantly diluted as part of its rescue plan.
Tullow Oil TLW.L , however, jumped 15% on the midcap index
after publishing data confirming high-quality oil bearing
sandstone reservoirs in its well in Guyana.

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