London stocks climb on hopes of monetary stimulus

London's FTSE 100 index rose for a second straight day on Tuesday, as central banks around the world raised hopes of more possible monetary stimulus to shield the global economy from the fallout of the coronavirus epidemic. The blue-chip index gained 1.5% ahead of a G7 central bank conference call of governors and finance ministers that is expected to deal with the outbreak, although a source at the group said it would not detail any immediate fiscal or monetary steps to boost growth.

The domestically focused mid-cap index also rose 1.5%, led by British marketing firm 4imprint Group, which jumped 13% after saying it had so far seen a minimal impact from the health crisis. Oil majors BP Plc and Royal Dutch Shell Plc gained 1.7% and 1.4%, tracking oil prices.