London stocks track Asia gains on recovery optimism; BP jumps

  • Reuters
  • Stock Market News
London stocks track Asia gains on recovery optimism; BP jumps
Credit: © Reuters.

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* FTSE 100 up 0.1%, FTSE 250 adds 0.4%

Aug 4 (Reuters) - London-listed shares rose for a second straight session on Tuesday as investors held out for a post-pandemic recovery on the back of improving economic data, while BP jumped after its quarterly results.

The oil major BP.L rose 6.3% and was on track for its best day in two months even as it cut its dividend for the first time in a decade following a record $6.7 billion loss in the second quarter. blue-chip FTSE 100 .FTSE added 0.1%, with traders buying into energy, financial and consumer discretionary stocks on hopes of a broader economic rebound after data on Monday from around the world pointed at a sharp jump in factory activity.

The mid-cap FTSE 250 .FTMC rose 0.4%, led by a 5.6% jump for easyJet Plc EZJ.L as it said it planned to fly about 40% of its capacity over the rest of the summer, more than originally scheduled. engineer Babcock International BAB.L slumped 10.8% after posting a plunge in quarterly underlying profit on higher costs due to the coronavirus downturn.

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