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London stocks gain, set for strong weekly gains on recovery hopes

Published 06/05/2020, 03:20 PM
Updated 06/05/2020, 03:30 PM
© Reuters.
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 0.9%, FTSE 250 adds 1.4%

June 5 (Reuters) - UK stocks rose on Friday and were set for
their third straight week of gains as optimism around a
post-coronavirus economic recovery drove investors back to
riskier assets, while housebuilder Taylor Wimpey jumped on a
rebound in bookings.
The firm TW.L added 3.2% and was among the top gainers on
the FTSE 100 .FTSE after it also said it had seen fewer
cancellations in Britain's nine-week lockdown than in the same
period last year. The blue-chip FTSE 100 .FTSE was up 0.9%, with travel
stocks .FTNMX5750 surging on a report saying https://www.ft.com/content/59fc4439-42b3-4de4-8276-5948d4514c4f
some European countries were keen to adopt "transport
corridors", which would let British holidaymakers visit
Mediterranean resorts without quarantining for 14 days on their
return.
The mid-cap FTSE 250 .FTMC was up 1.4%, with consumer
discretionary, industrial and financial stocks among the biggest
boosts.
Premier Oil PMO.L surged 11.6% after saying it would issue
discounted shares to activist hedge fund ARCM representing 8.91%
of the company to pay for North Sea assets from BP BP.L .

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