Investing.com - Financial Markets Worldwide

London stocks rise as China trade data offsets gloomy earnings

Published 07/05/2020, 08:18
Updated 07/05/2020, 08:24
© Reuters.
UK100
-
RR
-
RSAl
-
FTMC
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.4%, FTSE 250 adds 0.6%

May 7 (Reuters) - UK stock markets headed higher on Thursday
with investors looking past dismal quarterly earnings reports on
hopes of a faster recovery from a coronavirus-led recession
following a surprise rise in China's exports.
The export-laden FTSE 100 .FTSE climbed 0.4% and the
mid-cap FTSE 250 .FTMC added 0.6% as China's exports rose in
April for the first time this year with factories racing to make
up for lost sales due to the coronavirus shock. Historic global stimulus and signs of a plateau in the
COVID-19 pandemic powered the FTSE 100 in April, but the index
has struggled to build on those gains this month as economic
data underlines the extent of the damage already done.
Aero-engine maker Rolls-Royce RR.L fell 2.7% after saying
it placed over 4,000 staff on furlough in the UK. Insurer RSA RSA.L said it expected its exposure from the
outbreak to total around 25 million pounds ($30.89 million), but
its shares rose 3.9% to the top of the FTSE 100 in early
trading. Earlier in the day, the Bank of England held off from
launching further stimulus measures, as expected, but said it
was ready to take action to counter the coronavirus hit to the
economy.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.