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* FTSE 100 up 0.7%, FTSE 250 down 0.5%
* Exporters rise after pound weakens
* Upbeat trade signs boost oil majors
* Just Eat soars after Prosus' buyout offer
(Adds news items, analyst comments, updates to closing prices)
By Shashwat Awasthi
Oct 22 (Reuters) - London's FTSE 100 was lifted by
export-focused stocks on Tuesday as uncertainty over whether
British lawmakers would support the government's Brexit deal
took its toll on the pound.
The FTSE 100 added 0.7%, with BP and Shell
both gaining more than 2% and Asia-focussed HSBC
also rising after China signalled progress in trade
talks with the United States.
Other standouts in the index, whose components book most of
their earnings abroad, were AstraZeneca and BAT
, while Durex condom maker Reckitt pared losses
despite cutting its sales view for the second time this year.
However, the domestically-focussed FTSE 250, which
has gained more than 4% since September on hopes of a smooth end
to the Brexit process, slipped 0.5%.
British Prime Minister Boris Johnson told parliament that if
it delayed his legislation to leave the European Union he would
abandon his attempt to ratify the deal and push for an election
instead, threatening further political turmoil.
"The optimism of last week about the prospect of a deal
being approved has been replaced by a sense of fatigue," David
Madden at CMC Markets said.
Just Eat was the stand-out performer in the FTSE 100,
surging 24.2% to 732 pence after rejecting an offer by Dutch
firm Prosus of 710 pence-a-share offer.
"You may need more like 750 pence to sort this out,"
Markets.com analyst Neil Wilson said, predicting a bidding war.
Just Eat has already accepted a takeover by Takeaway.com
, and its shares enjoyed their best day since they
floated in April 2014.
London-listed shares of travel firm TUI were among
the few fallers, dropping 7.3% after Morgan Stanley downgraded
the stock and warned concerns around Boeing's 737 MAX
aircraft and demand uncertainty could be headwinds.
Business supplies distributor Bunzl fell 2.8% to
its lowest since February 2016 as its quarterly organic sales
growth slowed, while M&G dropped 6.4% on its second day
of trading after demerging from Prudential.
(Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak
Dasgupta and Alexander Smith)
