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UK shares climb on hopes of lockdown easing, Novacyt soars

Published 27/04/2020, 08:26
© Reuters.
UK100
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IHG
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 1.5%, FTSE 250 up 1.9%

April 27 (Reuters) - London-listed shares joined a global
rally on Monday as signs of an easing in the coronavirus
outbreak raised hopes that a month-long lockdown would be
relaxed, while diagnostics firm Novacyt surged on news of a
supply contract with the UK government.
The clinical diagnostics company NCYT.L jumped 12.2% after
saying it would supply its coronavirus testing kits to the UK's
Department of Health & Social Care for an initial period of six
months starting next week. The domestically-focussed midcap index .FTMC rose 1.9%, as
Prime Minister Boris Johnson returned to Downing Street almost a
month after he was diagnosed with COVID-19, with a report saying
he could announce plans to ease the lockdown as early as this
week. The commodity-heavy FTSE 100 .FTSE also added 1.5%, with
the financials and industrials sectors providing the biggest
boost.
Holiday Inn-owner InterContinental Hotels IHG.L said it
had agreed changes to the terms of its borrowing and made use of
UK government supported loans as it predicted a 25% plunge in
global revenue per available room in the first quarter. Its
shares rose 4.1%.


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