FTSE 100 hits 2-1/2-week high as China eases COVID-19 curbs

(Reuters) - UK's FTSE 100 index on Tuesday hit its highest level in more than two weeks, with commodity stocks leading the gains, as China's decision to ease some COVID-19 restrictions boosted risk sentiment.

By 0708 GMT, the blue-chip index FTSE 100 climbed 0.9% to its highest since June 10, while mid-cap FTSE 250 rose 0.5%.

Lifting investor appetite, China authorities said the country will halve to seven days its COVID-19 quarantine period for visitors from overseas, with a further three days spent at home.

Industrial metal and mining stocks gained 3.2%, while oil majors added 2.2% as metal and crude prices gained on hopes of a revival of demand from the world's second-biggest economy. [O/R] [MET/L]

Oilfield services provider Petrofac Ltd gained 5% said its half-year trading was in line with expectations as an upswing in oil prices raised demand.

The UK insurer index edged 2.4% higher after finance minister Rishi Sunak said on Monday the state wants to reform insurer solvency rules quickly.

(Reporting by Boleslaw Lasocki in Gdansk; Editing by Sherry Jacob-Phillips)