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London stocks bounce back from biggest slump since 2015

Published 02/25/2020, 04:13 PM
Updated 02/25/2020, 04:16 PM
London stocks bounce back from biggest slump since 2015

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.4%, FTSE 250 rises 0.5%
* Tullow Oil , Vivo Energy lead gains on mid-cap index
* Prudential jumps on Third Point stake

Feb 25 (Reuters) - London-listed stocks rebounded on Tuesday
after slumping to a four-month low in the previous session, as a
rapid increase in coronavirus cases outside China raised hopes
of further monetary stimulus to limit the damage to the global
economy.
The blue-chip FTSE 100 .FTSE gained 0.4%, a day after
logging its worst day since 2015 on a surge in virus cases in
South Korea, Iran and Italy. Fears of a pandemic had wiped $1.5
trillion off global equity markets on Monday.
The White House has sought about $2.5 billion to fight the
deadly virus, with more than $1 billion earmarked for developing
a vaccine. The domestically focussed mid-cap index .FTMC added 0.5%,
led by gains in Tullow Oil TLW.L and Vivo Energy VVO.L .
Insurer Prudential Plc PRU.L rose 2.9% after hedge fund
Third Point amassed a stake of over $2 billion and called on the
company to split into two. The stock was the biggest gainer on
the FTSE 100.

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