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Tariff pause by Washington buoys FTSE 100, insurer Admiral jumps
Published at 14/08/2019 at 08:22

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100 up 0.2%, FTSE 250 up 0.1%

* Pharma giant AstraZeneca biggest boost

* Insurer Admiral jumps after profit beat

Aug 14 (Reuters) - UK shares gained for a second straight session on Wednesday over hopes of an improvement in global trade relations after Washington delayed imposing tariffs on some Chinese goods, while insurer Admiral rose after reporting a market-beating profit.

The FTSE 100 index added 0.2% and the FTSE 250 midcap index rose 0.1% by 0707 GMT.

Admiral jumped 6% to the top of the main bourse after the company posted a bigger-than-expected rise in earnings, driven by more customers in its UK business.

Drugmaker AstraZeneca rose nearly 2%, providing the biggest support to the index, after its drug Lynparza met the primary endpoint in a phase III trial for ovarian cancer treatment.

Infrastructure company Balfour Beatty and Cybersecurity firm Avast were at the top of the midcap index with gains of 6.7% and 4.2%, respectively, after strong results.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

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