January 2, 2020 / 8:39 AM / 25 days ago

British shares begin 2020 with gains; Tullow Oil sinks

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* FTSE 100 up 0.8%, FTSE 250 up 0.3%

* Investors welcome China policy easing

* U.S., China to sign Phase 1 deal on Jan. 15

* Tullow Oil sinks after Carapa drilling results

Jan 2 (Reuters) - UK shares rose in the first trading session of the new decade, as investors welcomed China’s easing monetary policy to support slowing growth and U.S. President Donald Trump’s setting a date to sign a trade agreement with Beijing.

The FTSE 100 advanced after two straight sessions of losses to gain 0.8%, with all main sectors in the black. Mining shares led the gains after China, the world’s top metals consumer, cut the reserve requirement ratio for banks.

Sentiment was also bolstered after Trump announced a Jan. 15 deadline to sign a Phase 1 trade deal with China.

The FTSE 250 rose 0.3%. Tullow Oil lagged, slumping 17% after net oil pay at its Carapa-1 well offshore Guyana came in below pre-drill estimates. (Reporting by Shashwat Awasthi in Bengaluru)

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