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FTSE 100 set for weekly gains on stimulus, vaccine hopes

Published 17/07/2020, 08:33
© Reuters.
UK100
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FTMC
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FTNMX405010
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ICAG
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* FTSE 100 up 0.2%, FTSE 250 off 0.2%

July 17 (Reuters) - The FTSE 100 was set to close Friday
with its first weekly gain in four as hopes of more stimulus and
signs of progress in developing a COVID-19 vaccine supported
risk sentiment amid a surge in global infections.
The blue-chip FTSE 100 .FTSE was up 0.2% in early trade,
tracking small gains in Asia following a drop on Thursday that
was sparked by underwhelming retail sales data from China.
Healthcare, consumer staples and utilities stocks boosted
the FTSE 100, while the mid-cap FTSE 250 .FTMC shed about 0.2%
due to weakness in consumer discretionary, industrial and
financial stocks.
In Europe, focus turned to Brussels where European Union
leaders are expected to hammer out details of a 750-billion-euro
recovery fund over a two-day meeting. .EU
In thin company news, British Airways, the world's largest
operator of Boeing 747s, said it would retire its entire jumbo
jet fleet with immediate effect after the novel coronavirus
pandemic sent air travel into freefall. Shares of BA's parent firm IAG ICAG.L fell 2.7% amid a
broader sell-off in travel-related stocks .FTNMX5750 .

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