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London Markets: U.K. stocks poised for closing record as U.S.-China ease trade-war tensions

U.K. stocks rose sharply on Monday, on track for a record close, as traders welcomed news over the weekend that China and the U.S. reached an agreement that eases trade tensions between the world’s two largest economies.

That optimism also sparked a rally in the dollar, which in turn pulled the pound lower, with weakness in sterling helping lift the British stock market.

What are markets doing?

The FTSE 100 index UKX, +0.99% rose 1% to 7,853.54 setting it on track to take out its previous closing high of 7,787.97, hit last Thursday. It also hit an all-time intraday peak at 7,851.43 in Monday’s session.

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