British midcaps gain as investors hope for post-pandemic recovery
The domestically focussed FTSE 250 was up 0.4% after closing Tuesday with its best quarter in eight years, partly on the back of historic global monetary and fiscal stimulus. Upper Crust owner SSP tumbled 3.8% to the bottom of the FTSE 250 after saying it could cut about 5,000 jobs in a proposed restructuring of its UK business due to very low passenger numbers.
- Country:
- United Kingdom
London's mid-cap index inched higher on Wednesday as investors clung to hopes of more stimulus and a pickup in economic activity in the second half of the year, shrugging off concerns about more possible lockdowns following a surge in COVID-19 cases. The domestically focussed FTSE 250 was up 0.4% after closing Tuesday with its best quarter in eight years, partly on the back of historic global monetary and fiscal stimulus. Early gains were led by the auto, energy and retail sectors.
The export-heavy FTSE 100 dipped 0.1%, tracking weakness in Asian stocks following a spike in coronavirus infections. Upper Crust owner SSP tumbled 3.8% to the bottom of the FTSE 250 after saying it could cut about 5,000 jobs in a proposed restructuring of its UK business due to very low passenger numbers.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
London stocks set for weekly gains; miners lead gains
London shares eye weekly gains as miners spark rally
Qantas reroutes Perth-London flights on Middle East tensions
Athletics-London Marathon, Great Run and UK Athletics set up joint venture
London stocks gain as miners shine, inflation slows its fall