September 4, 2019 / 7:37 AM / 3 months ago

FTSE jumps on hopes Hong Kong unrest could end

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* FTSE 100 up 0.6%, FTSE 250 up 0.5%

* Financials, Burberry lead gains for main bourse

* Avast slumps after No. 2 shareholder dumps stake

* Pension provider Just Group falls on results

Sept 4 (Reuters) - London’s main index recovered on Wednesday, as a report indicating possible resolution to the Hong Kong protests lifted Asia-exposed stocks, while traders pondered a Brexit delay vote after Prime Minister Boris Johnson lost majority in parliament.

The FTSE index was up 0.6% and the midcap index edged 0.5% higher by 0713 GMT, after falling in the previous session amid growing possibilities of a snap election in Britain that would bring new risks to Brexit.

Lawmakers defeated Johnson in parliament on Tuesday in a bid to prevent a no-deal Brexit, prompting him to announce that he would push for a snap election.

Shares in Asia-focussed stocks including HSBC and luxury brand Burberry rose about 2% following a report that said Hong Kong’s leader would announce the formal withdrawal of a proposed extradition bill that is at the centre of months of protests.

Avast tumbled 5% to the bottom of the FTSE 250 after its second-biggest shareholder dissolved its entire stake in the cybersecurity company, while small-cap specialist pension provider Just Group slumped 10.1% after posting results. (Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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