Stimulus hopes boost London stocks; IHG jumps
- The Holiday Inn owner gained 4pc as it said it was seeing some "very early" signs of returning demand as coronavirus-related restrictions eased in major markets.
London-listed shares rose on Tuesday as hopes of a stimulus-led rebound helped investors look past a mixed batch of quarterly earnings updates, while InterContinental Hotels jumped on signalling a tentative recovery.
The Holiday Inn owner gained 4pc as it said it was seeing some "very early" signs of returning demand as coronavirus-related restrictions eased in major markets.
The blue-chip FTSE 100 and the mid-cap FTSE 250 were up 1.0pc and 0.7pc, respectively, led by gains for energy, life insurance and travel-related stocks.
Bank of England Deputy Governor Dave Ramsden said in an interview published on Tuesday that the central bank would step up on quantitative easing if the British economy slows and struggles again.
June gross domestic product figures are due on Wednesday.
Domino's Pizza Group Plc fell 3.2pc after posting a dip in first-half operating earnings, hurt by costs for implementing social distancing measures at its restaurants due to the pandemic.
Comments
Comments are closed for this article.