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FTSE 100 heads for best session in 10 days
Published at 19/08/2019 at 08:25

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100 up 0.9%, FTSE 250 up 0.6%

* Chinese moves on corporate interest rates lift stocks globally

* BP, Shell jump as Yemen attack adds to Middle East tensions

* HSBC up 2%, leading other Asia-focussed financials

Aug 19 (Reuters) - Sharp rises in oil company shares drove Britain's FTSE 100 higher on Monday, after an attack on a Saudi oil facility by Yemeni separatists pushed crude prices higher, while Asia-exposed banks gained following moves by China to keep business interest rates low.

By 0710 GMT, the FTSE 100 had jumped nearly 1%, its biggest one-day rise in more than 10 days, while the midcap index was 0.6% higher.

Shell and BP both rose 1.5%, tracking a surge in crude prices following a drone attack by Yemen's Houthi group on an oilfield in eastern Saudi Arabia on Saturday, which caused a fire at a gas plant and added to Middle East tensions.

Miners and Asia-exposed financial heavyweights, led by HSBC

with a near 2% rise, also offered support after China's central bank announced a set of reforms to help lower borrowing costs for companies and support an economy that has been bruised by the trade war with the United States.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; editing by Patrick Graham)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

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