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European shares near 11-week high, UK stocks surge

Published 26/05/2020, 08:22
© Reuters.
UK100
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PEUP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
May 26 (Reuters) - European shares hovered near a 11-week
high on Tuesday, with UK markets surging after a long weekend,
as businesses worldwide gradually reopened following a
months-long lockdown.
The pan-European STOXX 600 .STOXX rose 1% by 0708 GMT
after hitting its highest level since March 10.
Returning from a bank holiday, UK's FTSE 100 .FTSE surged
1.9% as Prime Minister Boris Johnson said on Monday Britain will
reopen thousands of high street shops, department stores and
shopping centres next month. Aston Martin AML.L soared 24.8% after the UK luxury
carmaker confirmed that Tobias Moers, CEO of Mercedes-AMG, would
become its chief executive officer. Wall Street futures also rallied 2%, as hopes of further
policy support and improving economic data fuelled hopes of a
faster economic recovery from the coronavirus pandemic.
Paris-headquartered shopping centre operator Klepierre SA
LOIM.PA jumped 6.7% after saying it had reopened 80% of its
European malls and hopes to reopen 90% of them within 10 days.
French carmakers Renault SA RENA.PA and Peugeot SA
PEUP.PA jumped nearly 4% as President Emmanuel Macron said
support for the hard-hit car sector will be "massively
amplified".

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