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* Carnival, Wizz Air regain ground
* Amigo slumps on plans for equity raise
* FTSE 100 up 0.9%, FTSE 250 adds 1.0%
(Updates to close)
By Bansari Mayur Kamdar
Nov 29 (Reuters) - London's FTSE 100 bounced back from its
worst session in more than a year to rise on Monday as investors
kept a wary eye on the newly detected Omicron coronavirus
variant and BT Group jumped following a report of takeover
interest.
The FTSE 100 ended 1% higher, after the discovery of
the new variant knocked 3.6% off the blue-chip index on Friday.
While Omicron was already as far afield as Canada and
Australia, a South African doctor who had treated cases said
symptoms were so far mild.
"Decisive action by governments to try and control the
spread of the new Omicron Covid variant has restored some
confidence among investors," said Russ Mould, investment
director at AJ Bell.
"Monday's market movements suggest individuals have had some
time to reflect on events over the weekend and are being calmer
with their investment decisions."
BT Group Plc ended 6.1% higher, trimming back some of
its gains after India's Reliance Industries denied a
media report it was weighing a bid for the British telecoms
group.
The stock gained as much as 9% after The Economic Times said
billionaire Mukesh Ambani's Reliance might make an unsolicited
offer to buy into BT or try to get a controlling share.
Oil majors BP and Royal Dutch Shell added
more than 2% each as crude prices jumped back from their lowest
in more than a year, on investors looking for bargains and
speculation that OPEC+ may pause an output increase.
Miners gained 1.9% as metal prices recouped
some of the previous week's losses.
Shares in HSBC, Lloyds and Barclays
all gained between 0.8% and 1.6%.
The domestically focussed mid-cap index advanced
1.0%, also recovering from its worst sell-off so far this year,
with Wizz Air and Carnival PLC among the best
performers as travel stocks recouped some of Friday's losses.
Subprime lender Amigo Holdings Plc slumped 28.7%
after saying it expected court proceedings over its new rescue
plan to take at least four months. It laid out plans for an
equity raise to support the business.
(Reporting by Bansari Mayur Kamdar and Amal S in Bengaluru;
Editing by Subhranshu Sahu and Andrew Cawthorne)
