UPDATE 2-London's FTSE 100 recovers from Trump's COVID-19 shock

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* British industry body reports grim market-wide sales
numbers
* Centamin tumbles after forecasting lower annual production
* Cyclical assets to be volatile in coming months - analyst
* FTSE 100 up 0.4%, FTSE 250 rises 0.1%

(Updates to close)
By Shashank Nayar and Susan Mathew
Oct 2 (Reuters) - London's FTSE 100 ended higher on Friday
as markets recovered from the initial shock of U.S. President
Donald Trump testing COVID-19 positive, although Brexit concerns
and a 22% plunge in miner Centamin capped gains for the more
domestically-focussed index.
Trump said on Friday he and his wife Melania were going into
quarantine, raising concerns about the impact on his
presidential campaign less than five weeks before the election.
The blue-chip FTSE 100 index .FTSE closed up 0.4% after
losing as much as 1.2%, taking weekly gains to 1% after two
weeks of losses.
"We are seeing a more level-headed approach given that
President (Trump) may only suffer a mild form of the virus,"
said Joshua Mahony, senior market analyst at IG.
"While the White House has insisted that Trump is capable
and working in isolation, the progression of his condition will
likely provide another key element for traders to track over the
coming week."
Oil stocks .FTNMX0530 tracked crude prices lower, while
gains were led by financials and commodity-linked stocks. O/R
"We expect risk assets and cyclical assets to continue to
fluctuate in sync with the public health situation,
vaccine-related news... in the months to come," said Nannette
Hechler-Fayd'herbe, chief investment officer at Credit Suisse in
London.
The blue-chip index currently trades higher than its March
lows, but with British scientists warning it was still likely
that a resurgence in COVID-19 cases was spreading exponentially,
and a UK trade deal with the European Unions still uncertain,
the outlook for further gains appears bleak.
The mid-cap FTSE 250 .FTMC lost 0.1%, with gold miner
Centamin Plc CEY.L tumbling after it forecast a fall in annual
production. The British Chamber of Commerce said on Friday many more
British companies reported a fall in sales over the past three
months than the ones who experienced an upswing, despite the
lifting of most coronavirus restrictions.