Stimulus hopes boost FTSE 100 after worst day since 2008
(For a live blog on European stocks, type LIVE/ in an Eikon news window)
* FTSE 100 up 1.4%, FTSE 250 up 1.1%
* Meggit top decliner on rating downgrade
March 10 (Reuters) - London's FTSE 100 bounced back on Tuesday from its worst session since the 2008 financial crisis, as investors bet on co-ordinated stimulus measures by major central banks to shield the global economy from the impact of the coronavirus outbreak.
The blue-chip FTSE 100 .FTSE was up 1.4%, after falling to its lowest level since 2016 on Monday as a crash in oil prices fanned fears of a sharp slowdown in global growth.
BP Plc BP.L and Royal Dutch Shell Plc RDSa.L tracked a rebound in oil prices after closing Monday with their worst session on record.
Investor attention in Britain will be on a budget speech by Finance Minister Rishi Sunak on Wednesday for clues on additional stimulus from the Bank of England. 26% jump for Premier Oil PMO.L helped the domestically focussed mid-cap index .FTMC add 1.1%.
Aerospace firm Meggit MGGT.L fell 1.2% to the bottom of the FTSE 100 after Berenberg downgraded it to "hold" and cut its price target.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or