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* FTSE 100, FTSE 250 up 0.3%
* Mondi reverses course to close higher
* Miners biggest boost to main index
* FTSE 100 confirms "Death Cross" pattern
(Adds company news items, updates share moves, changes analyst
comments)
By Muvija M and Shashwat Awasthi
Oct 10 (Reuters) - London stocks finished a roller coaster
session on Thursday with gains as domestic companies rose after
Britain and Ireland said they saw a pathway to a Brexit deal,
and international names jumped on to a global rally over hopes
of a U.S.-China trade truce.
The FTSE 100 ended 0.3% higher, after flipping back
and forth during the day on mixed signals over the state of
affairs between Beijing and Washington, while the midcap index
that has a greater UK exposure also rose by the same level.
However, a more than 1% surge in sterling on renewed
prospects of a Brexit agreement kept a lid on gains for the
blue-chip bourse, which earns a sizeable portion of its earnings
in the U.S. dollar.
Spirits company Diageo, consumer goods giant
Unilever and AstraZeneca were among stocks
hammered the most, causing the FTSE 100 to lag other major
indexes.
Stocks vulnerable to a hit from Brexit, on the other hand,
overpowered those losses. Lloyds topped the main board
with a 4% leap, while Royal Bank of Scotland added 3%.
Mining heavyweights, which rely on world's top metals
consumer China for a chunk of their profits, were the biggest
sector-wise boost to the main bourse, climbing 2.5% - their most
since early August.
Gains were triggered as hopes of a resolution to a painfully
long trade war returned after U.S. President Donald Trump said
he will meet Chinese Vice Premier Liu He on Friday.
The comments were well received, given they came after
sentiment had turned sour following a report that Beijing has
urged Washington to stop unreasonable pressure on Chinese
companies.
On news-related moves, FTSE 100 component Mondi
reversed earlier losses to close 2% higher after a third-quarter
update, while homewares retailer Dunelm slumped 10% to
the bottom of the midcap index after it flagged a softer market.
Still, reflecting recent worries over trade and Brexit, the
FTSE 100 confirmed a "Death Cross" pattern as its 50-day moving
average (DMA) crossed below the 200 DMA, which is seen a warning
sign that more losses are likely in the near term.
The blue-chip bourse last formed the pattern roughly a year
ago when Brexit negotiations and Italy's budget deficit had hit
risk appetite.
"The ebb and flow of sentiment around U.S., China trade
continues to pull global stock markets from pillar to post," CMC
Markets' Michael Hewson wrote.
(Reporting by Muvija M and Shashwat Awasthi in Bengaluru;
Editing by Bernard Orr and Giles Elgood)
