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London stocks gain as economies reopen from lockdown

Published 05/05/2020, 03:13 PM
Updated 05/05/2020, 03:20 PM
© Reuters.
UK100
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BP
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SHEL
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0RYA
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FTMC
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FTNMX301010
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FTNMX405010
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FTNMX551030
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WIZZ
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 1.6%, FTSE 250 up 1.3%

May 5 (Reuters) - UK stock markets headed higher on Tuesday
as investors counted on a revival in economic activity with
several countries lifting coronavirus-induced restrictions,
while energy stocks tracked a jump in oil prices.
The blue-chip FTSE 100 .FTSE was up 1.6%, with BP Plc
BP.L and Royal Dutch Shell Plc RDSa.L providing the biggest
boost, while the domestically focussed FTSE 250 .FTMC added
1.3%.
Both benchmark indexes were set to snap a three-day losing
streak, supported by broad-based gains for miners .FTNMX1770 ,
banks .FTNMX8350 , and travel and leisure stocks .FTNMX5750 ,
as hard-hit countries including the United States and Italy
relaxed stay-at-home orders. UK Prime Minister Boris Johnson is expected to review a
nationwide shutdown this week, with a report saying the
government will recommend sweeping changes to workplaces to
avoid a second wave of infections. Meanwhile, in another sign of the economic damage from the
COVID-19 pandemic, low-cost airlines Ryanair RYA.L and Wizz
Air WIZZ.L reported a near total wipeout in passenger numbers
in April, but their shares rose 3.1% and 0.3%, respectively,
after Wizz Air said it expected its figures to improve in May.

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