UPDATE 2-Primark owner, oil majors push FTSE higher

* FTSE 100 up 0.3%, FTSE 250 up 0.2%

* AB Foods gains after annual results

* Oil firms, miners biggest gainers on main board

* Metro Bank tops smallcap leader-board
(Adds company news items, analyst comment, adds closing prices)

By Muvija M and Shashwat Awasthi

Nov 5 (Reuters) - Gains for oil majors and miners pushed
London's FTSE 100 into the black on Tuesday, buoyed by hopes of
a trade deal between the United States and China, while Primark
owner Associated British Foods jumped 6% after strong
results.

The FTSE 100 advanced 0.3%, after having touched a
one-month high earlier in the session, while the mid-cap index
was 0.2% higher.

A.B.Foods recorded its best one-day spike in more
than 10 months after it posted higher annual earnings and said
it was well-positioned for further earnings growth in the new
year.

A Reuters report that Beijing is pushing U.S. President
Donald Trump to remove more tariffs imposed in September as part
of a "phase one" U.S.-China trade deal lifted prospects for a
resolution of the protracted dispute.

Oil majors Shell and BP, which fell last
week after reporting falls in profit, gennerated the biggest
boost to the main index, rising about 1% each.

Miners, one of the sectors most exposed to trade tensions
due to their dependence on Chinese demand, reached
a near 2-month high, also helped by a rise in copper prices
partially driven by a cut in forecasts by Chilean-focused
Antofagasta.

"Fresh positive geopolitical stimuli have appeared, turning
the dial on risk appetite even higher. At the same time....
quantitative gauges suggesting risk assets are becoming
'overbought' are piling up too," Cityindex analyst Ken Odeluga
said.

A mixed set of results pushed tobacco company Imperial
Brands slightly higher after a volatile morning.

While sales for the year topped market expectations, the
tobacco firm guided to low-single digit revenue and profit
growth for the year amid a regulatory crackdown on vaping in the
United States.

Among mid-caps, gambling and related firms fell for a second
straight day after lawmakers called for a raft of measures to
overhaul online casinos. Rank Group, William Hill
and Playtech lost between 0.3%-8%.

News of a cyber attack at marine services provider James
Fisher and Sons dragged its stock nearly 6% to be among
steepest fallers on the FTSE 250 index.

Defence company Cobham, which has agreed to a $5 billion
deal with U.S. private equity firm Advent, was the biggest drag
on the index with a 2% fall as regulators at home continue to
scrutinise the merger.

Metro Bank, whose stock price has plummeted since
an accounting mistake, surged 12.2% with a trader citing an
Evening Standard report https://www.standard.co.uk/business/market-report-is-lloyds-pondering-a-bid-for-metro-bank-a4276271.html
a few days ago about a possible takeover by Lloyds.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru;
Editing by Saumyadeb Chakrabarty and Mark Heinrich)