London Markets: U.K. stocks boom on hopes for China trade deal

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British stocks rallied on Monday, responding to the latest positive comments about the likelihood of a U.S.-China trade deal.

U.S. Commerce Sec. Wilbur Ross, in Thailand for a summit, told Bloomberg Television, “we’re in good shape, we’re making good progress.”

The FTSE 100 UKX, +1.10%  leaped 1.14% to 7386.02. U.S. stock futures ES00, +0.61%   also rose.

Gainers included the mining giants that are very sensitive to China’s economic growth prospects, as Glencore GLEN, +4.48%  , Rio Tinto RIO, +3.24%   and BHP BHP, +2.78%   all registered strong gains.

Outside the FTSE 100, GVC GVC, -9.03%  shares tumbled nearly 9% as the betting shop company said its chairman, Lee Feldman, will step down after 11 years, and be replaced by Barry Gibson, the chairman of home emergency repairs business as well as a former board member at a rival gambling company.