The midcap FTSE 250 MCX, +0.04% rose 3.5%, its best single-day percentage gain in more than three years, as European leaders indicated there was progress toward reaching an agreed deal with the U.K. on leaving the European Union. The European Union says it has agreed with the United Kingdom to "intensify" Brexit negotiations in a belated attempt to reach a divorce deal ahead of Oct. 31. A number of FTSE 250 components sported double-digit gains, including bank CYBG CYBG, -2.88%, building materials distributor Grafton Group GFTU, +5.25% and home improvement retailer Travis Perkins TPK, +1.44%. The FTSE 100 UKX, -0.44% however saw much smaller gains, of just 0.7%, because many of those components record revenue in dollars.
Midcap British stocks soar on move toward Brexit talks