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Share Price: 526.30
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UPDATE 2-UK shares rise as PM assures jobs protection; BP weighs on oil stocks

Wed, 23rd Sep 2020 09:55

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)

* PM Johnson says UK has "massive" package to protect jobs

* Finance Minister to update parliament on economy on
Thursday

* September PMI weakens

* SSP rises on possible recovery in sales

* FTSE 100 up 1.2%; FTSE 250 gains 1.0%
(Updates to close)

By Susan Mathew and Shashank Nayar

Sept 23 (Reuters) - UK shares rose on Wednesday after Prime
Minister Boris Johnson said the government had a "massive"
package to protect jobs, offsetting concersn 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.

"The promise of a package reassured markets that jobs will
be secured in some way, serving as a precursor to more severe
measures that will likely be announced in the coming weeks,"
said Connor Campbell, financial analyst at spread better
Spreadex.

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.

Meanwhile, Britain's recovery from the coronavirus lockdown
lost some momentum in September, a business survey showed, as
consumer-facing sectors suffered from the end of a government
subsidy to support restaurants and more general COVID-related
worries.

A weaker pound and a raft of stimulus measures have helped
the FTSE 100 bounce back from its coronavirus-driven slump in
March. However, an increase in COVID-19 cases and the UK's
economic weakness has kept investor optimism in check.

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
U.S.-based wire and cable distributor..
(Reporting by Shashank Nayar in Bengaluru; Editing by Saumyadeb
Chakrabarty, Subhranshu Sahu and Hugh Lawson)

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UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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