London stocks jump after worst day in more than three decades

London stocks rebounded on Friday from their worst day in more than three decades as a recovery in oil prices and fresh moves by policymakers to tackle the economic impact of the coronavirus outbreak lifted sentiment.

The commodity-heavy index rose 3%, while the domestically focussed FTSE mid-cap index was up 1.4% on the back of a 10% jump for miners, and oil and gas companies. BP Plc and Royal Dutch Shell Plc rose between 6% and 7%, tracking higher oil prices.

Miners Rio Tinto, BHP group and Anglo American jumped more than 11% and were the biggest gainers on the main index. Central banks from the United States to Australia pumped liquidity into their financial systems and hopes of a U.S. stimulus package helped the mood on Friday even as the virus outbreak infected almost 135,000 and killed more than 4,900 worldwide.