* FTSE 100 up 0.8 pct
* FTSE 250 up 1 pct
* BATS, Imperial Brands gain
* Smith & Nephew slumps after M&A chatter
* Mid-cap Metro Bank jumps on rating upgrade
(Changes quote, updates to closing prices)
By Muvija M and Shashwat Awasthi
Feb 11 (Reuters) - British blue-chip names bounced back on Monday
buoyed by strength in bank and consumer shares, while a stronger
dollar lifted companies with greater international exposure as a fresh
round of Sino-U.S. trade talks commenced.
The main index added 0.8 percent while midcaps
were up 1 percent, after ending lower on Friday as fresh concerns
over the Sino-U.S. trade situation added to fears of a slowdown in the
Overseas, gains on Wall Street were led by industrial companies as
a new round of talks between the United States and China piqued hopes
for a trade deal.
Asia-focused bank HSBC rose 1.5 percent.
Travel group TUI's London-listed shares advanced 5 percent to
top the FTSE 100 leader-board as traders cited Bank of America Merrill
Lynch resuming coverage with a "Buy" rating.
Imperial Brands was 2 percent higher after the tobacco group said
its non-executive chairman Mark Williamson would step down. Larger
rival British American Tobacco also rose 2.7 percent.
The gain in the FTSE 100, coming after three sessions of losses,
marked a strong start to a week in which British Prime Minister
Theresa May is due to update parliament on her progress towards a
European Union divorce deal.
The market held up despite data showing the British economy had
slowed in the final three months of last year, pushing growth in 2018
to its weakest in six years, as Brexit worries hammered investment.
The contraction, however, was as expected and came after economic
growth forecast cuts by the Bank of England and the European
Commission last week.
BREXIT CLOCKS TICKS
As the March 29 exit date ticks closer, a deal on how the world's
sixth-largest economy will leave the European Union is still in limbo
and companies are reigning in spending until the fog clears.
May has rejected the idea of targeting a customs union with the
EU, stamping out hopes that she could shift her Brexit policy to win
over the opposition Labour Party.
"Clearly the Brexit discussions - and the need for a
compromise to be forged - are a source for further concerns or an
opportunity to quell the malaise with huge implications for all UK
consumers, employees, employers and the general economy," Raymond
James analyst Chris Bailey said of the data.
After touching their highest since November on Chinese iron ore
futures hitting record levels, metals stocks shed some gains to end up
1 percent, even as most base metals prices fell on global growth
Among mid-caps, the biggest boost came from takeaway group Just
Eat , which climbed 4.4 percent after its shareholder Cat Rock
Capital Management urged the company to start merger talks and said it
would benefit from a deal rather than relying on a new chief executive
Metro Bank , whose stock has roughly halved in value following
an accounting error, surged 6.5 percent stand among top mid-cap
gainers following a Berenberg upgrade.
Among a handful of losers was Smith & Nephew which slid 3
percent after the Financial Times reported that it has held talks to
buy U.S.-based medical equipment maker NuVasive
in a deal that would be worth more than $3 billion.
Small-cap KCOM rose 6.1 percent after the Telegraph reported
that Virgin Media was considering a takeover bid, while logistics firm
Connect Group rose 3 percent on a contract with Daily Mirror
publisher Reach Plc .
FTSE miners vs the blue-chip index
(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by
((Muvija.M@thomsonreuters.com; within U.S. +1 646 223 8780, outside
U.S. +91 80 6749 3638; Reuters Messaging: email@example.com))
(( For related prices, Reuters users may click on - *
UK stock report
techMARK 100 index: FTSE futures:
Gilt futures: Smallcap index:
FTSE 250 index: FTSE 350 index:
Market digest: Top 10 by vol:
Top price gainers: Top % gainers:
Top price losers: Top % losers:
* For related news, click on - *
UK hot stocks: [HOT and GB] Wall Street:
Gilts report: Euro bond report
Pan European stock report:
Tokyo stocks: HK stocks:
Sterling report: Dollar report:
* For company prices, click on - *
Company directory: By sector:
* For pan-European market data, click on - *
European Equities speed guide................
FTSE Eurotop 300 index...........................
DJ STOXX index...................................
Top 10 STOXX sectors........................
Top 10 EUROSTOXX sectors...................
Top 10 Eurotop 300 sectors..................
Top 25 European pct gainers....................
Top 25 European pct losers..................... ))