Economic news

FTSE 100 Gains on U.S.-China Trade Optimism

* FTSE 100 up 0.7%, FTSE 250 adds 0.5%

Aug 25 (Reuters) - The FTSE 100 rose for a second straight session on Tuesday as a pledge by Washington and Beijing to stand by their Phase-1 trade pact lifted global sentiment, while technology firm Aveva jumped after signing a $5 billion takeover deal.

The export-heavy FTSE 100 added 0.7% and the mid-cap FTSE 250 0.5%, with China-reliant miners and Asia-focussed banks among the early gainers.

Aveva Group rose 2.3% to the top of the FTSE 100 as it said it would buy OSIsoft, a privately held maker of industrial software used to manage plants and factories, for an enterprise value of $5 billion.

AstraZeneca Plc rose 0.6% after launching a trial for an antibody-based treatment for COVID-19.

The drugmaker logged its best session in a week on Monday as a report said the U.S. government was considering fast-tracking its experimental vaccine, already among the most advanced vaccine candidates.

Retailer DFS Furniture Plc jumped 13.5% after saying its performance over the last six weeks was significantly above its initial expectations.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu)

Source: Reuters


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