(There will be no London stocks report on Friday and Monday due
to market holidays. Coverage will resume on Tuesday, April 14)
* FTSE 100 up 2.9%, FTSE 250 adds 3.4%
* Redrow jumps on funding under BoE's financing scheme
* Just Eat Takeaway soars on sharp rise in orders
(Updates with closing prices)
By Devik Jain and Sruthi Shankar
April 9 (Reuters) - Britain's FTSE 100 logged its best week
since early 2009 on further stimulus from the U.S. Federal
Reserve and expectations among that the coronavirus crisis could
soon ease.
The blue-chip index .FTSE rose 2.9% on Thursday, ending a
holiday-shortened week with a gain of nearly 8%.
The U.S. central bank announced measures worth $2.3 trillion
in aid for local governments and small and mid-sized businesses
to keep the U.S. economy intact. Meanwhile, the Bank of England agreed to temporarily lend
the British government money if needed to help finance its
massive coronavirus-related spending plans. The measures, along with signs of new coronavirus cases
levelling off in the U.S. hotspot of New York and receding in
hard-hit regions of Europe saw global stock markets gain.
"The mood in markets continues to improve, but it's patchy,"
said Jasper Lawler, head of research at London Capital Group.
Travel stocks surged across Europe, lifting cruise line
Carnival Corp CCL.N 9.2%, while Just Eat Takeaway JETJ.L
jumped 14% to the top of the FTSE 100 index after it said total
orders jumped 50% in the first quarter. Shares in BP BP.L and Royal Dutch Shell RDSa.l rose
marginally after a source told Reuters that major oil producers
are considering cutting their output by more than 12 million
barrels per day. Among midcap stocks, homebuilder Redrow RDW.L rose 9.6%
after getting approval for the Bank of England's coronavirus
emergency financing scheme and saying talks with six banks to
secure additional funds were progressing well. The FTSE Mid 250 index .FTMC , which has underperformed the
blue-chip and small cap companies since the rout started in
February, added 3.4%, posting its best weekly performance.
Diageo Plc DGE.L , the world's largest spirits maker, rose
4.4% after it maintained its plan to pay an interim dividend
even as it withdrew its earnings outlook and suspended a share
buyback programme in response to the pandemic. Rail and coach ticketing company Trainline TRNT.L rose
2.2% after saying it would cut costs and capital spending to
help weather an extended downturn. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Either big or small: FTSE 250 lags smallcaps, blue chips IMAGE
https://reut.rs/2Rm3vCm
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