Energy stocks lift FTSE 100, Sainsbury surges

  • Reuters
  • Stock Market News
Energy stocks lift FTSE 100, Sainsbury surges
Credit: © Reuters.

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* FTSE 100 up 0.8%, FTSE 250 adds 0.1%

Jan 7 (Reuters) - London's FTSE 100 jumped on Thursday as energy stocks tracked strong gains in crude prices, while investor confidence was further bolstered by hopes of a bigger U.S. stimulus package under a Democrat administration.

The blue-chip FTSE 100 .FTSE gained 0.8%, with BP BP.L and Royal Dutch Shell RDSa.L being the biggest boosts, while supermarket group Sainsbury SBRY.L was the top gainer on the index.

The supermarket owner gained 5.3% after it raised its full-year profit forecast as it benefited from COVID-19 restrictions that forced people to stay at home. risk assets gained in anticipation of big borrowing and big spending under the Democrat administration which would help support economic growth at a time the coronavirus crisis continues to ravage several businesses globally. MKTS/GLOB

London-listed shares of Europe's largest low-cost carrier Ryanair RYA.L dropped 1.0% after it slashed its annual traffic forecast due to fresh lockdowns in the United Kingdom and Ireland.

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