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* FTSE 100 up 1.5 pct, FTSE 250 up 1.1 pct
* Consumer staples lead gains
* Primark owner ABF falls 2.5 pct after weak trading statement
By Helen Reid
LONDON, Dec 7 (Reuters) - Britain's top stock index rose on Friday
after a tumultuous week during which global stocks sold off and
investors in UK stocks fretted about a parliamentary vote on Brexit
Britain's FTSE 100 rebounded from Thursday's plunge to gain 1.5
percent. Financials, consumer stocks and oil majors boosted the index.
Investors and analysts remained unconvinced the gains represented
a change in sentiment, though.
"Are people going to put new cash to work convincingly now,
thinking this is the low? I can't see there's any urgency to do that
now really," said Ian Williams, analyst at Peel Hunt.
"It does look like a bounce from an extreme technical
oversold level, but I don't think it means we're out of the woods yet
by any means," he said.
Shares in Associated British Foods fell 2.4 percent after the
Primark owner said trading at its budget fashion chain was challenging
"The next three weeks will be critical, and there may be a
chance to reverse the trend if the weather normalises," Credit
Suisse analysts said.
Marks & Spencer shares also underperformed the market, up
just 0.6 percent, as traders said Primark's weaker performance
reflected broader challenges for retail.
Shire fell 1.7 percent, the second worst-performing FTSE 100
stock. Japan's Takeda Pharmaceutical , the company acquiring Shire,
suffered a 5 percent slide in its shares overnight.
Multinationals British American Tobacco , Diageo
, Unilever drove much of the FTSE 100 gains as the dollar
recovered from Thursday's slide.
Mid-caps saw some big moves.
Intellectual-property investment firm IP Group's shares
fell 7 percent after Jefferies cut its rating on the stock to
"underperform" from "hold".
"Against our earlier hopes for second-tier portfolio
companies to step up to diversify dependence on Oxford Nanopore,
hopefuls have largely failed to deliver, the listed portfolio drags
and the market remains largely uninterested - ominously with the next
significant funding beginning to loom," Jefferies analysts said.
Shares in tour operator Thomas Cook fell a further 3.5 percent,
having suffered sharp falls this week.
Genus fell 4.7 percent after the company announced a placing of
3 million new shares.
On their first day of trading, shares in retail investment
platform AJ Bell surged 36 percent. The firm's IPO valued it at 651
FTSE 100 dec 7
(Reporting by Helen Reid, editing by Larry King)
((Helen.Reid@thomsonreuters.com; +44 20 7542 0402;))
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