October 11, 2019 / 9:46 AM / 2 months ago

Amid Brexit deal hopes, UK Plc outshines FTSE 100

LONDON, Oct 11 (Reuters) - Hopes that Britain will seal a Brexit deal pushed London-listed companies with exposure to the domestic economy to a premium over London’s blue-chip index for the first time since May, in a major reversal of fortunes for the much-shunned market.

JP Morgan’s UK domestic plays index that tracks about 30 UK stocks that make all or most of their revenue at home was up as much as 5% at 0939 GMT, set for its best day since the basket was created nearly three years ago.

The index was outperforming the FTSE 100 by 2.1%, rising to a premium over the blue-chip index for the first time since May.

A JP Morgan index that follows UK-listed companies making their money abroad was down 0.7% and lagging the domestic index. (Reporting by Josephine Mason, editing by Julien Ponthus)

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