LONDON, Sept 4 ― London's main index recovered today, as a report indicating possible resolution to the Hong Kong protests lifted Asia-exposed stocks, while traders pondered a Brexit delay vote after Prime Minister Boris Johnson lost majority in parliament.
The FTSE index was up 0.6 per cent and the midcap index edged 0.5 per cent higher by 0713 GMT (3.13pm today), after falling in the previous session amid growing possibilities of a snap election in Britain that would bring new risks to Brexit.
Lawmakers defeated Johnson in parliament yesterday in a bid to prevent a no-deal Brexit, prompting him to announce that he would push for a snap election.
Shares in Asia-focussed stocks including HSBC and luxury brand Burberry rose about 2 per cent following a report that said Hong Kong's leader would announce the formal withdrawal of a proposed extradition bill that is at the centre of months of protests.
Avast tumbled 5 per cent to the bottom of the FTSE 250 after its second-biggest shareholder dissolved its entire stake in the cybersecurity company, while small-cap specialist pension provider Just Group slumped 10.1 per cent after posting results. ― Reuters
