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Highlights
FTSE 100 rose amid conclusion of U.S.-China trade discussions in London
UK real estate firm Assura plc (LON:AGRP) accepted a buyout offer from KKR-Stonepeak-backed Sana Bidco
Markets await Chancellor Rachel Reeves’ Spending Review announcement
The FTSE 100 index, which tracks the performance of major firms listed on the London Stock Exchange, advanced in early trading. The uptick came after U.S. and Chinese representatives ended two days of trade discussions in London. Meanwhile, the broader UK100 index posted mild gains, followed by modest increases across the French CAC 40 (FCHI) and Germany's DE40.
Investors tracked the outcomes of the diplomatic meetings, while the British pound traded slightly lower against the dollar. Market participants were also focused on upcoming announcements regarding public spending plans by the U.K. government.
Preliminary trade agreement emerges between U.S. and China
Trade officials from both nations reportedly concluded talks with a preliminary framework aimed at restoring cooperation and reducing export restrictions. Although the draft outlines steps to ease controls on items such as rare earth materials and semiconductors, it remains subject to final approval by leadership figures from both countries. The outcome of these meetings contributed to improved sentiment across equity markets in Europe.
Assura gains on agreed acquisition terms
Shares of Assura plc (LON:AGRP), a healthcare-focused real estate group, rose after the company confirmed acceptance of a buyout offer from Sana Bidco. Backed by KKR and Stonepeak, the consortium offered an all-cash proposal that valued the business above a competing bid from Primary Health Properties plc. Assura’s board opted for the Sana Bidco offer citing confidence in its funding structure and deliverability.
The approved deal offers shareholders a fixed cash payment, while concerns around the financing model of the alternative proposal were cited in the decision-making process. The stock's movement lifted sentiment in the real estate segment of the FTSE 250 index, to which Assura belongs.
Chancellor Reeves to unveil fiscal priorities
Attention has also shifted to the fiscal policy sphere, with Chancellor Rachel Reeves expected to present a Spending Review. The outline will provide updated financial plans across government departments and is likely to influence sentiment in public services, infrastructure, and housing-related equities.
Investors and market participants are monitoring the session for clarity on capital allocation and departmental funding that may affect several listed entities across multiple sectors.
Broader market snapshot
Elsewhere, movements across other London-listed stocks showed a mixed picture. Data intelligence firm LON: DATA experienced a significant drop, while RCDO (LON:RCDO) surged. Meanwhile, diversified holdings such as DHLn (LON: DHLn) and EVRI (LON:EVRI) registered minimal changes.
Overall, the UK100 index reflected optimism linked to geopolitical developments and upcoming fiscal direction, with select sectors responding sharply to acquisition activity and corporate updates.
