London stocks track Asia rally on recovery hopes

UK stocks jumped 1% on Monday as investors bet on a stimulus-led economic revival, with focus also turning to the U.S. quarterly earnings season for signs of a pickup in activity following the easing of coronavirus lockdowns. Cabinet Minister Michael Gove said on Sunday progress was being made in talks, but there were still divisions.

UK stocks jumped 1% on Monday as investors bet on a stimulus-led economic revival, with focus also turning to the U.S. quarterly earnings season for signs of a pickup in activity following the easing of coronavirus lockdowns. The blue-chip FTSE 100 was up 1.1%, with fewer than 10 stocks in the red in early trading, while the mid-cap FTSE 250 added 1.2%, led by travel, energy and mining stocks.

Asian shares also began the week on an optimistic note, climbing toward five-month peaks even as some U.S. states reported record new COVID-19 cases. Meanwhile, Brexit negotiations are back in focus with Britain urging businesses and individuals to prepare for the Dec. 31 end of the transition period. Cabinet Minister Michael Gove said on Sunday progress was being made in talks, but there were still divisions.