Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
The ballot comes at a precarious time for the country's longest serving prime minister, with the right-wing incumbent facing formidable challenges.World Politicsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
* FTSE 100 up 1%, FTSE 250 up 0.5%
* Exporters boost blue-chips as sterling skids
* AstraZeneca hits record high on positive trial results
* M&S slips on FTSE 100 relegation worries (Adds news item, analyst comment, updates to closing prices)
Sept 2 (Reuters) - London's FTSE 100 surged 1% on Monday, shrugging off news of the latest U.S.-China trade tariffs, as exporter stocks firmed following a slide in sterling on the prospect of an election against the backdrop of Brexit.
The main index hit its highest in nearly a month, partly boosted by AstraZeneca, which rose 3% to an all-time high after separate trials showed its drugs helped patients with cardiovascular conditions.
The mid-cap FTSE 250 rose 0.5%, though trading volumes on both UK indexes were thin due to a U.S. market holiday.
Companies that book a major chunk of their earnings in U.S. dollars such as Diageo, Unilever and BAT jumped as the pound weakened ahead of a showdown this week between the government and the lawmakers opposed to a no-deal Brexit.
With 59 days till Britain is scheduled to leave the European Union, Prime Minister Boris Johnson threatened to purge any lawmaker in his party who votes against the government on Brexit, as he looks to make good on his promise of delivering Brexit on Oct. 31, with or without a deal.
The latest volley of tariffs between Washington and Beijing, which came into effect over the weekend, was also spurring some defensive buying.
Escalating worries over global trade and a looming recession weighed on the FTSE 100 in August, as it recorded its sharpest monthly fall since October. Meanwhile, fears of a no-deal Brexit had led the mid-caps to their first monthly fall since May.
"Gains may be fragile," Markets.com analyst Neil Wilson said of the FTSE 100's rise on Monday. "After a rough August though, traders should buckle up for more volatility in September."
On a low-key day for corporate news, Marks & Spencer shed 1.4% on expectations of being relegated from the FTSE 100 for the first time since the blue-chip index was created in 1984.
Also weighing on shares of the 135-year old retailer was Goldman Sachs reinstating coverage on the stock with a 'sell' rating, saying recent trading patterns in the retailer "continued to be disappointing".
"It is clear that UK consumers are becoming savvier, and M&S are undergoing a restructuring scheme, but it seems the consumer climate is deteriorating at a quicker rate then M&S is turning itself around," CMC Markets analyst David Madden said. (Reporting by Shashwat Awasthi and Indranil Sarkar in Bengaluru; Editing by Arun Koyyur, William Maclean)