Company News

FTSE 100 rises to near one month-high after Biden's U.S. election victory

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* FTSE 100 up 1.5%, FTSE 250 adds 1.5%

Nov 9 (Reuters) - London’s FTSE 100 jumped on Monday as investors cheered Joe Biden’s U.S. election victory on hopes of more monetary stimulus and calmer global trade, while also awaiting progress on a Brexit deal with the European Union.

The blue-chip FTSE 100 index added 1.5% to touch its highest level since Oct. 14, with Taylor Wimpey Plc surging 9.2% after the homebuilder said it was on track to deliver annual results above market expectations.

The wider homebuilding sub-index rose 2.1%.

The domestically focussed mid-cap FTSE 250 gained 1.5% after Prime Minister Boris Johnson said on Sunday a Brexit trade deal was “there to be done”, suggesting his view that the agreement’s broad outline was already “pretty clear” was shared in Brussels.

In company news, On The Beach Group Plc fell 3.4% after the holiday package provider warned of a hit to seat capacity due to England’s four-week ban on international leisure travel. (Reporting by Devik Jain in Bengaluru)