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* UK growth slows less than thought in September - PMI data
* Cineworld drops to seven-month low on closing screens
* Weir jumps on selling oil & gas unit to Caterpillar
* FTSE 100 up 0.7%, FTSE 250 gains 1.1%
(Updates to close)
By Shashank Nayar
Oct 5 (Reuters) - London's FTSE 100 rose on Monday, lifted
by oil stocks as crude prices jumped after doctors treating U.S.
President Donald Trump for COVID-19 hinted that he was doing
well, while Cineworld fell sharply after it said it was
considering temporarily closing all U.S. and UK screens.
The blue-chip index rose for a third consecutive
session to hit its highest level since Sept. 18, led by gains in
oil majors BP and Royal Dutch Shell. The mid-cap
FTSE 250 index rose 1.1%.
"Investors are focusing on the broader picture right now
with sentiment turning slightly positive on anticipation of
fresh U.S. stimulus," said David Madden, an analyst at CMC
Markets. "However, traders will remain cautious until there is
more clarity on the U.S. presidential election."
Also aiding the mood, the final services sector data for
September showed Britain's economy proved more resilient than
initially thought despite a tightening of lockdown restrictions
and an end to a temporary government subsidy for businesses.
Shares of Cineworld slumped 36.2% after the world's
second-biggest cinema operator said it was considering
temporarily closing all its screens in the United States and
Britain after studios pulled major releases.
Engineering company Weir Group Plc gained 15.9%
after it said it had agreed to sell its oil and gas division to
U.S. heavy equipment maker Caterpillar Inc for $405
million in cash.
Shares of the telecom operator Vodafone rose 4.7%
after it said on Monday that it received concent for a security
package from its lenders, which was a requirement to complete
the merger of Indus Towers with Bharti Infratel.
(Reporting by Shashank Nayar in Bengaluru; Editing by
Subhranshu Sahu and Gareth Jones)
