Recovery hopes power UK stocks; easyJet jumps

  • Reuters
  • Stock Market News
Recovery hopes power UK stocks; easyJet jumps
Credit: © Reuters.

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* FTSE 100 up 0.8%, FTSE 250 adds 1.1%

May 28 (Reuters) - UK shares rose on Thursday after early signs of a pickup in business sentiment fuelled hopes of a post-coronavirus economic rebound, while easyJet jumped on a plan to cut staff following a collapse in global air travel.

Low-cost airline easyJet Plc EZJ.L rose 4.3% to the top of the FTSE 100 as it said it would cut up to 30% of its staff and shrink its fleet. blue-chip FTSE 100 .FTSE climbed another 0.8% after ending Wednesday at an 11-week high, with health care .FTNMX4570 and financial .FTNMX8770 firms among the top boosts to the index.

The mid-cap FTSE 250 .FTMC added 1.1%, extending gains for the ninth session in a row, as a survey showed British employers turned a bit less pessimistic about hiring and investment this month following moves to reopen the economy. operator Cineworld Group Plc CINE.L soared 16% as it secured an additional $110 million from lenders and a waiver on loan covenants as the company looks to reopen all its cinemas in July.

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