LONDON: UK shares rose on Wednesday after Prime Minister Boris Johnson said the government had a “massive” package to protect jobs, offsetting concerns over new restrictions brought in to curb a resurgence in Covid-19 cases.

The FTSE 100 closed up 1.2% to lead gains among European peers. The index extended gains after the UK announced new restrictions on Tuesday but held back from imposing a full lockdown.

Johnson’s comments came ahead of an update due on Thursday from British finance minister Rishi Sunak on the economy and the government’s plans to protect jobs.

Healthcare stocks led the rally in UK, while JD Sports topped the blue-chips index as sports companies across the globe got a lift from Nike’s stellar quarterly results.

Glencore weighed on miners as a slide in iron ore and copper prices weighed, while oil stock were hit by BP’s 1.2% decline.

The mid-cap index broke a five-day losing run to end up 1.0%.

Topping the index were restaurant chain owner SSP which rose on indications of a recovery in sales, and technical products maker Diploma which surged on a deal to buy a US-based wire and cable distributor.

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