November 4, 2019 / 8:36 AM / 9 days ago

Trade hopes buoy FTSE; Mothercare dives 38%

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* FTSE 100, FTSE 250 up 0.4%

* Sino-U.S. trade hopes rekindled

* Mothercare tanks after placing UK ops in administration

Nov 4 (Reuters) - London’s FTSE 100 joined a global stocks rally on Monday driven by rising hopes of a U.S.-China trade deal, while baby products retailer Mothercare sank to a record low after appointing administrators for its UK operations.

The FTSE 100 added 0.4% as Asia-focussed banks HSBC and Standard Chartered as well as miners including Rio Tinto firmed after Washington and Beijing signalled they had made progress in trade talks.

The mid-cap FTSE 250 also advanced 0.4%.

Struggling retailer Mothercare, which has shut a third of its British stores in the past year due to intense competition from supermarkets and online retailers, sank 38%. (Reporting by Shashwat Awasthi in Bengaluru; editing by Patrick Graham)

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