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LONDON (Alliance News) - Stocks in London were sharply higher at midday on Monday, with miners driving gains in the FTSE 100, after the US and China reached an agreement at the weekend to defer any further increases in trade tariffs.The FTSE 100 was up 155.45 points, or 2.2%, at 7,135.69 midday. The FTSE 250 was up 193.06 points, or 1.0%, at 18,673.89 and the AIM All-Share up 0.1% at 939.19.The Cboe UK 100 was up 2.4% at 12,108.26 and the Cboe UK 250 up 1.0% at 16,694.83. The Cboe UK Small Companies was down 0.1% at 11,401.31."The FTSE has jumped by more than 150 points with stocks that have the greatest exposure to China prominent near the top of the index as miners such as Antofagasta, Anglo American and Glencore all surging," said XTB chief market analyst David CheethamStocks in New York also were set to open sharply higher, with the Dow Jones Industrial Average called up 1.9%, the S&P 500 index up 2.4% and the Nasdaq Composite up 1.7%.At the G20 summit in Argentina, the US and China on Saturday agreed to a 90-day ceasefire in their trade war, giving the two sides time to continue negotiations. US President Donald Trump agreed that on January 1 he would leave the recently increased tariffs on USD200 billion worth of Chinese product at 10% and not raise the rate to 25%, as he had threatened. Negotiations between the sides in the next three months will look at intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft. The White House warned that if the sides could not reach a deal in the allotted time frame, the tariffs would go up. China also will increase its imports from the US to improve the trade balance between the countries."Even if three months is not long enough to agree on terms that avert more tariffs and removes those already imposed, it could be long enough to agree a broad outline of what the future relationship will look like and then extend the truce. The important thing is that, while we may be sat here in three months discussing the increase in tariffs after talks failed to produce a solution, there is now a chance that we aren't and investors are understandably lifted by that prospect, said Oanda senior market analyst Craig Erlam.On the London Stock Exchange, commodity stocks were among the blue-chip risers, following the temporary trade truce, as well as better-than-expected manufacturing data from China.Antofagasta was up 8.0%, Evraz, up 6.4%, Anglo American, up 6.6%, BHP, up 6.1%, Rio Tinto, up 5.3%, Glencore, up 5.2%. The manufacturing sector in China accelerated slightly in November, the latest survey from Caixin revealed, with a manufacturing PMI score of 50.2. That exceeded expectations for a score of 50.1, which would have been unchanged from the October reading.In the FTSE 250, Dunelm Group was the best performer, up 13% after Peel Hunt raised the homewares retailer to Buy from Hold. At the other end of the midcap index, Ted Baker was down 13% after harassment allegations were made by employees against the higher street fashion chain's founder & chief executive, Ray Kelvin.The company's staff have launched a online petition on website Organise Platform to put an end to forced "hugging" and inappropriate touching and comments by Kelvin. The petition has been signed by over 2,400 people. It is unclear as to how many are current or former employees of the company.Ted Baker said in a statement it would make sure an independent investigation was carried out.However, Thomas Cook was the worst performer in the FTSE 250, down 18% and continuing losses from its profit warning last Tuesday. Since then, the stock has fallen 46%.Stobart Group was down 10% after the infrastructure and support services company, which runs Southend airport, said it intends to reduce its fourth-quarter dividend to invest in "value-creating opportunities" and maintain a "strong" balance sheet. Stobart will reduce its fourth-quarter dividend to 1.5 pence from 4.5p in the same period last year. As a result, Stobart said it will pay a total dividend of 15p in the current financial year, down from 16.5p it said on Monday it had paid in the previous financial year.McColl's Retail Group was down 30% after the convenience store chain issued a profit warning, blaming lower-than-expected conversion of sales to profit, transitional challenges, and difficult trading conditions. McColl's said it now expects adjusted earnings before interest, taxes, depreciation and amortisation for the 52-week period ended November 25 to be around GBP35 million, down from GBP44.0 million adjusted Ebitda recorded in the comparative year-ago period. The company also predicted adjusted Ebitda for 2019 financial year to be no more than a modest improvement on financial 2018 due to continued consumer uncertainty, as well as cost pressures due to the increase in the UK national living wage.The pound was down at USD1.2720 at midday, compared to USD1.2770 at the London equities close Friday. Sterling continued to trade at depressed levels as investors look ahead to a week-long debate on the Brexit deal before a final vote in parliament on Tuesday next week.UK Prime Minister Theresa May has been warned she is on course for a "historic constitutional row" unless the government releases its full legal advice on the Brexit deal. Labour said it is ready to combine with other opposition parties to start proceedings for contempt of Parliament unless the legal opinion of Attorney General Geoffrey Cox is published in full. The DUP - which props up the Conservative government in the Commons - was said to be ready to sign a joint letter with other parties to Speaker John Bercow on Monday unless ministers back down. Meanwhile, May's chief Brexit adviser secretly warned that the Northern Ireland "backstop" agreed in her deal with Brussels was a "bad outcome" for Britain, it has been reported. In a letter to the prime minister, Oliver Robbins said the backstop, intended to prevent the return of a hard border with the Republic, would mean the imposition of regulatory checks between the North and the rest of the UK, according to The Daily Telegraph. On the economic front, UK manufacturing sector expanded at the fastest pace in two months in November, exceeding economists' expectations, survey data from IHS Markit showed. The CIPS manufacturing purchasing managers index rose to 53.1 from October's 27-month low of 51.1. Economists had forecast a score of 51.7. A PMI reading above 50 suggests growth in the sector. However, the latest PMI was among the weakest registered over the past two-and-a-half years, IHS Markit said."UK PMI manufacturing was a bright spot coming in at 53.1 but traders ignored the news as Brexit woes continued to dog the pair on reports that as many as one-third of May's party may vote against her deal next week," said BK Asset Management's Boris Schlossberg. In Paris the CAC 40 was up 1.6%, while the DAX 30 in Frankfurt was up 2.4%. The euro was firm against the dollar at USD1.1326 at midday, against USD1.1319 at the European equities close Friday."Focus is now shifting to European Central Bank President Mario Draghi as he addresses markets on Wednesday ahead of this month's ECB policy meeting. A shift in rhetoric and affirmation the ECB will end is QE program this month could help push the EUR/USD pair back through USD1.14 and break the recent bearish undertone plaguing the combined unit," said analysts at OFX. The eurozone's manufacturing growth slowed less-than-expected in November, amid marginal growth in output and weak business confidence, and was the lowest since August 2016, final data from IHS Markit showed on Monday.The manufacturing purchasing managers' index fell to 51.8 from 52 in October. The flash reading was 51.5. A PMI reading above 50 suggests growth in the sector, which expanded for a sixty-fifth month running. Germany's manufacturing PMI fell to a 31-month low of 51.8, which was higher than the flash reading of 51.6.Brent oil was quoted at USD61.72 a barrel on Monday, up from USD58.57 late Friday.Persian Gulf state of Qatar said it would pull out of the Organization of the Petroleum Exporting Countries in January and focus on its gas industry. The move comes amid political tensions between Qatar and other Gulf countries, led by Saudi Arabia.The oil cartel's 175th meeting takes place in Vienna, Austria on Thursday.