Economic news

UK stocks surge amid progress in U.S.-China trade talks

UK stocks advanced on Monday, on course for a record closing peak, as investors digested China-U.S. agreement on further relationship between the world’s two biggest economies.

The FTSE 100 index jumped 0.6 percent to 7,824.42, heading for peak of 7,787.97, touched last Thursday. The pound dropped to $1.3414 from $1.3466 late Friday in New York.

Shares of Ryanair Holdings slid 0.2 percent after the European carrier downgraded its profit forecast.

Shares in AstraZeneca PLC AZN gained 1.7 percent after the U.S. regulators have approved Lokelma for the treatment of adults with hyperkalemia.

International Consolidated Airlines Group SA IAG climbed 0.8 percent after reporting it intends to make a new offer for Norwegian Air Shuttle.

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