FTSE 100 gains after U.S. eases Huawei sanctions, Galliford jumps

  • Reuters
  • Stock Market News
FTSE 100 gains after U.S. eases Huawei sanctions, Galliford jumps
Credit: © Reuters.

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* FTSE 100, FTSE 250 up 0.4%

* Asia-focussed financial stocks boost main index

* Builder Galliford jumps after job cuts

May 21 (Reuters) - Financial stocks with Asian exposure led a recovery in London's FTSE 100 after the United States eased restrictions on Chinese telecom giant Huawei, while mid-cap builder Galliford Try surged after saying it would cut jobs.

The FTSE 100 .FTSE and the FTSE 250 .FTMC were up 0.4% by 0715 GMT.

Heavyweights HSBC HSBA.L , Prudential PRU.L and Standard Chartered STAN.L boosted the blue-chip index as markets hoped that trade tensions between Washington and Beijing would be eased. majors Shell RDSa.L and BP BP.L were also supported as escalating U.S.-Iran tensions and expectations that producer club OPEC would continue to withhold supply this year pushed oil prices higher. O/R

Galliford Try GFRD.L climbed 13.3% to the top of the FTSE 250 after the builder said it would cut up to 350 jobs as its construction business focuses on its core strengths, bringing hopes of improved margins.

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