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FTSE 100 Bounces Back On Improved Risk Appetite

U.K. shares bounced back from losses in the previous session on Monday as fears about hurricane Irma have waned and North Korea refrained from launching more missiles at the weekend despite speculation that it would do so.

The benchmark FTSE 100 was up 56 points or 0.76 percent at 7,433 in late opening deals after declining 0.3 percent on Friday.

AstraZeneca rallied 2.5 percent after reporting positive results from two trials for lung cancer treatments.

Specialist insurer Beazley jumped 5.7 percent and Hiscox rallied almost 4 percent after experts reduced damage estimates from Hurricane Irma in the United States.

The destructive storm has been downgraded to category 1 as it moved over the western Florida peninsula.

Associated British Foods fell over 2 percent despite the food, ingredients and retail group raising its outlook for full year results.

Gold miner Randgold Resources dropped 1.5 percent and Fresnillo shed 1.2 percent as gold prices retreated from a one-year high.

by RTT Staff Writer

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