Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545


News SummaryAll newsNews of the index components

UK stocks clock best day in nearly three-weeks on stimulus hopes

share with twitter share with LinkedIn share with facebook
07/06/2020 | 12:41pm EDT
FILE PHOTO: Construction work near the River Thames on the Greenwich Peninsula is seen next to the O2 and Canary Wharf financial district in London

By Shreyashi Sanyal

London stocks logged their best day in nearly three weeks on Monday, with cyclical stocks including banks leading advances on hopes of more stimulus to kickstart a battered global economy, while homebuilders jumped on a report of stamp duty cuts.

Persimmon, Barratt Developments and Taylor Wimpey gained as a report said finance minister Rishi Sunak planned to raise the property tax threshold to as high as 500,000 pounds ($623,700) in an attempt to exempt most homebuyers from paying any stamp duty.

Barratt also reported a higher order book value and said it was starting the new financial year with "cautious optimism".

"Cuts to VAT rates are perhaps the most straightforward way to increase demand and would provide a much-needed lifeline to the UK high street," said Tom Selby, senior analyst at AJ Bell.

The FTSE 100 was up 2.1% and the mid-cap FTSE 250 1.4%, also supported by bets the Chinese economy would boost global growth. [.SS]

Asia-focused lender HSBC jumped 6.6%, leading gains among banks, while construction stocks <.FTNMX2350> gained 1.7% as a survey showed growth returned to construction companies in June for the first time since the coronavirus lockdown began.

The FTSE 100 has rebounded more than 25% from a virus-driven crash in March, aided by historic global stimulus and improving economic data.

Prime Minister Boris Johnson has said he would set out a timetable this week for when the remaining sectors of the British economy would be allowed to reopen.

Insurer Aviva gained 3.6% as it said Maurice Tulloch was stepping down with immediate effect for family health reasons and named independent director and former Zurich Insurance executive Amanda Blanc as his replacement.

Online fashion retailer Boohoo tumbled 23% after a media report highlighted working conditions in one English factory.

(Reporting by Shreyashi Sanyal in Bengaluru; Additional reporting by Shashank Nayar and Sagarika Jaisinghani; Editing by Uttaresh.V and Alex Richardson)

Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC -0.88% 449 Delayed Quote.5.59%
AVIVA PLC -0.60% 295.7 Delayed Quote.-27.47%
BARRATT DEVELOPMENTS PLC 0.09% 516.8 Delayed Quote.-30.75%
BOOHOO GROUP PLC 0.04% 318.4094 Delayed Quote.6.71%
HSBC HOLDINGS PLC -3.08% 346.05 Delayed Quote.-39.67%
PERSIMMON PLC 2.60% 2528 Delayed Quote.-8.50%
SET 0.74% 1346.69 Real-time Quote.-15.38%
TAYLOR WIMPEY PLC -0.12% 120.4 Delayed Quote.-37.64%
ZURICH INSURANCE GROUP LTD -2.54% 345.5 Delayed Quote.-10.75%
share with twitter share with LinkedIn share with facebook
All news about FTSE 100 INDEX
08/10LONDON STOCK EXCHANGE : Oil stocks boost FTSE 100 as China data signals recovery
08/06LONDON STOCK EXCHANGE : Glencore tumble weighs on FTSE 100; BoE sees longer reco..
08/04LONDON STOCK EXCHANGE : FTSE 100 flat on mixed earnings, Sino-U.S. tensions; BP,..
08/03HSBC profit plunge hits FTSE 100, offsets upbeat China data
07/31LONDON STOCK EXCHANGE : FTSE 100 slides as UK postpones lockdown easing
07/31Startups in eastern Europe tap public money as private investors bail
07/31Startups in eastern Europe tap public money as private investors bail
07/31Glencore 1st Half Production Dropped, Lowers 2020 Coal and Nickel Guidance
07/30Sales of Household Staples Boost Results -- Earnings at a Glance
07/30LONDON STOCK EXCHANGE : Lloyds, Stan Chart weigh on FTSE 100 amid global stocks ..
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | MarketScreener
Full-screen chart
Top / Flop FTSE 100 INDEX
FLUTTER ENTERTAINMENT PLC 136.325 Real-time Estimate Quote.2.62%
PERSIMMON PLC 2530 Delayed Quote.2.60%
SPIRAX-SARCO ENGINEERING PLC 10995 Delayed Quote.2.18%
M&G PLC 185.15 Delayed Quote.2.07%
OCADO GROUP PLC 2335 Delayed Quote.1.52%
PENNON GROUP PLC 1072.5 Delayed Quote.-2.50%
STANDARD CHARTERED PLC 426.3 Delayed Quote.-2.78%
NATWEST GROUP PLC 115.7 Delayed Quote.-3.06%
HSBC HOLDINGS PLC 346.1 Delayed Quote.-3.08%
ITV PLC 62.72 Delayed Quote.-5.00%
Heatmap :