London close: US tax cut hopes kick-off 'Santa rally' in stocks

London stocks jumped on Monday amid expectations the US tax reform bill will be passed soon and on the back of thinner trading volumes as traders headed off on their holidays. The FTSE 100 gained 0.62% to stand at 7,537.01, while the pound edged higher by 0.12% against the euro to 1.1352 and tacked on 0.5% versus the US dollar to 1.3393. IG analyst Joshua Mahony said: "The Santa rally is well and truly on, with last week closing out with a bang, as record highs across the Dow, S&P 500, and ...

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