London stocks gain on recovery optimism; energy firm SSE jumps

London's FTSE 100 rose for a second straight day on Wednesday as investors remained optimistic about a post-coronavirus economic recovery, with energy firm SSE Plc jumping after posting an upbeat annual profit.

London's FTSE 100 rose for a second straight day on Wednesday as investors remained optimistic about a post-coronavirus economic recovery, with energy firm SSE Plc jumping after posting an upbeat annual profit. The renewable power generator and network operator jumped 8.7% to the top of the FTSE 100 even as it warned of a hit to profit for the current year due to the impact of the coronavirus crisis.

The blue-chip FTSE 100 was up 0.4% after ending Tuesday with its best session in a month due to robust U.S. economic data and positive results from a UK drug trial in reducing COVID-19 death rates. The mid-cap FTSE 250 gained 0.7%, with real estate, banking, and health care stocks leading gains.

Online fashion group Boohoo surged 10.2% as it forecast annual results ahead of market expectations, thanks to strong demand for its brands and apparel during coronavirus-led lockdowns.