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Tuesday,26 May 2020 at 16:07

UK and European stocks closed higher amid growing optimism about economies reopening.

The pound rose, boosted mainly by improving global risk appetite which saw the greenback fall.

Oil prices rose, supported by growing confidence that producers are following through on commitments to cut supplies.

Gold fell as major economies further eased coronavirus-led restrictions, fuelling hopes of economic recovery and bolstering risk appetite.

In corporate news, British Airways and Iberia parent IAG flew to the top of the index, with budget airline easyJet close behind as the airline sector was boosted by news that Lufthansa has agreed a €9bn bailout with the German government.

Going the other way, pharmaceutical stocks were lower, with AstraZeneca and Hikma both firmly in the red. 

Markets
At the close
FTSE 100 6,067 +1.24%
FTSE 250 16,933 +3.26%
DAX 11,504 +1.00%
At 17:00
Dow Jones 25,044 +2.37%
S&P 500 3,002 +1.61%
NASDAQ 9,379 +0.59%
Fixed Income
UK 10-YR YIELD 0.22
Exchange Rates
GBP/USD 1.233
GBP/EUR 1.124
Commodities
Gold $1,713 (-0.73%)
Brent $35.24 (-0.84%)
This report has been prepared for private circulation. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.
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