Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

UK shares rise as PM assures jobs protection; BP weighs on oil stocks

share with twitter share with LinkedIn share with facebook
09/23/2020 | 12:31pm EDT
Traders looks at financial information on computer screens on the IG Index trading floor

UK shares rose on Wednesday after Prime Minister Boris Johnson said the government had a "massive" package to protect jobs, offsetting concersn over new restrictions brought in to curb a resurgence in COVID-19 cases.

The FTSE 100 closed up 1.2% to lead gains among European peers. The index extended gains after the UK announced new restrictions on Tuesday but held back from imposing a full lockdown.

Johnson's comments came ahead of an update due on Thursday from British finance minister Rishi Sunak on the economy and the government's plans to protect jobs.

"The promise of a package reassured markets that jobs will be secured in some way, serving as a precursor to more severe measures that will likely be announced in the coming weeks," said Connor Campbell, financial analyst at spread better Spreadex.

Healthcare stocks led the rally in UK, while JD Sports topped the blue-chips index as sports companies across the globe got a lift from Nike's stellar quarterly results.

Glencore weighed on miners as a slide in iron ore and copper prices weighed, while oil stock were hit by BP's 1.2% decline.

Meanwhile, Britain's recovery from the coronavirus lockdown lost some momentum in September, a business survey showed, as consumer-facing sectors suffered from the end of a government subsidy to support restaurants and more general COVID-related worries.

A weaker pound and a raft of stimulus measures have helped the FTSE 100 bounce back from its coronavirus-driven slump in March. However, an increase in COVID-19 cases and the UK's economic weakness has kept investor optimism in check.

The mid-cap index broke a five-day losing run to end up 1.0%.

Topping the index were restaurant chain owner SSP which rose on indications of a recovery in sales, and technical products maker Diploma which surged on a deal to buy a U.S.-based wire and cable distributor..

By Susan Mathew and Shashank Nayar


Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 2.04% 205.5 Delayed Quote.-56.42%
DIPLOMA PLC 0.44% 2302 Delayed Quote.13.74%
GLENCORE PLC 1.47% 167.48 Delayed Quote.-28.84%
JD SPORTS FASHION PLC 2.34% 822.4 Delayed Quote.-1.79%
LONDON BRENT OIL -1.65% 41.66 Delayed Quote.-35.76%
SSP GROUP PLC 3.40% 194.9 Delayed Quote.-70.08%
WTI -2.04% 39.715 Delayed Quote.-33.87%
share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
12:55pItaly plans further curbs as coronavirus cases hit new record
RE
12:10pG20 OF TWENTY FINANCE MINISTERS AND CENTRA : Empower Alliance meeting - Statement
PU
11:41aEXCLUSIVE : Leading investors in Ant Shanghai IPO submit bids in 68-69 yuan/share range, say sources
RE
11:20aItaly reports new daily coronavirus total, further curbs likely
RE
11:20aItaly reports new record of 19,644 new coronavirus cases on saturday - health ministry
RE
09:27aDubai announces $136 million extra stimulus package
RE
09:00aCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China's telecom sector sees steady growth
PU
08:55aDEPARTMENT OF PETROLEUM RESOURCES OF NIGERIA : DPR seeks collaboration with NUPENG, PENGASSAN on COVID-19 management in industry
PU
08:25aCRISIS AND OPPORTUNITIES : New Finance and New Economy in a New Situation
PU
08:20aUNECA UNITED NATIONS ECONOMIC COMMISSION FOR AFR : Time for integrated regional value chains in Central Africa
PU
Latest news "Economy & Forex"