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FTSE 100 edges up on AstraZeneca boost
Published at 20/08/2019 at 08:27

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

* FTSE 100, FTSE 250 up 0.2%

* AstraZeneca up 1.5% as diabetes drug meets study goals

* BHP down after warning on demand

Aug 20 (Reuters) - London's FTSE 100 inched higher in early deals on Tuesday, as AstraZeneca advanced after its diabetes drug Farxiga met the main goal of a heart failure study, offsetting a post-earnings drop for miner BHP.

The FTSE 100 added 0.2%, tracking gains in other major stock markets overnight as hopes grew of fresh stimulus from central banks and governments to beat back the risk of recession. The mid-cap FTSE 250 also gained 0.2% by 0709 GMT.

AstraZeneca rose 1.5% and was the biggest boost to the blue-chip index after the results of the Farxiga study.

Shares in mining heavyweight BHP shed 2% as a warning that global economic headwinds could hit demand for iron ore and copper took the shine off its largest annual profit in five years.

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

((Shashwat.Awasthi@thomsonreuters.com; within U.S.+1 646 223 3403; outside U.S. +91 80 6749 3403))

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