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FTSE up on trade relief, Thomas Cook surges on buyout talks

Published 06/10/2019, 03:44 PM
Updated 06/10/2019, 03:50 PM
FTSE up on trade relief, Thomas Cook surges on buyout talks
UK100
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FERG
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TCGI
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FTMC
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INOV
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.4%, FTSE 250 up 0.2%
* Stocks gain after U.S.-Mexico trade dispute settles
* Ferguson down on rev miss
* Thomas Cook surges on preliminary offer for unit

June 10 (Reuters) - London's main index gained on Monday as
a U.S.-Mexico deal to avert proposed tariffs boosted global
sentiment, while top UK tour operator Thomas Cook TCG.L surged
on signs of a bid for its main business from Chinese shareholder
Fosun Tourism 1992.HK .
The FTSE 100 .FTSE gained 0.4% and the FTSE 250 .FTMC
rose 0.2% by 0706 GMT, tracking gains in Asian stock markets as
investors cheered the agreement between the United States and
its southern neighbour . Gains were spread largely across the board in London, with
heavyweight financial stocks, miners and oil shares all boosting
the FTSE 100.
Plumbing products distributor Ferguson's FERG.L shares
lost 4.1% after the company's third-quarter revenue missed
analysts' expectations. Woodford Patient Capital Trust WPCT.L , a FTSE 250-listed
fund run by money manger Neil Woodford, tumbled another 5%,
despite reassuring investors that the suspension of a flagship
equity fund had not affected its "operational performance".
Thomas Cook TCG.L , which has put its tour operating
business up for sale in the aftermath of three profit warnings
in the past year, surged 11.8% after it said it was in talks
with Fosun, already the company's largest shareholder.

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