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UK shares rises as coronavirus-related deaths slow

Published 06/04/2020, 08:28
Updated 06/04/2020, 08:30
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LGEN
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* Novacyt gains on French approval for its COVID-19 test
* Legal & General to pay 2019 dividend, shares surge
* FTSE 100 up 2.9%, FTSE 250 adds 3.4%

April 6 (Reuters) - UK shares gained on Monday as investors
cheered signs of slowing coronavirus-related deaths in the
hotspots of western Europe.
The blue-chip FTSE 100 .FTSE gained 2.9% by 0812 GMT, but
was still underperforming its European peers, weighed down by
news that Prime Minister Boris Johnson was in hospital due to
persistent symptoms, 10 days after testing positive for the
virus. The domestically focused midcaps .FTMC gained 3.4%.
Stock markets globally were on steadier grounds after last
week's modest selloff as the rate of new infections and deaths
slowed in Italy and Spain, while hard-hit New York reported on
Sunday that deaths had fallen slightly from the day before.
Aero-engine maker Rolls-Royce RR.L rose 10.6% after
revealing it had secured an additional 1.5 billion pounds ($1.8
billion) revolving credit facility, but said it was scrapping
its targets and final dividend. Legal & General Group LGEN.L surged 13.7%, recovering
sharply from last week's losses after the insurer said it
planned to pay its 2019 dividend even after a European Union
regulator said insurers should temporarily halt payouts.
Healthcare company Novacyt NCYT.L rose 8.3% after its
COVID-19 diagnostic test won French approval, making it
available for immediate distribution in France.

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