* BP, Shell lead gains as supply cut hopes boost oil prices
* Miners rise; interest-rate sensitive banks, airlines
decline
* FTSE 100 up 1.1%, FTSE 250 falls 0.2%
(Adds stock close)
By Devik Jain and C Nivedita
March 2 (Reuters) - London-listed shares bounced back in
choppy Monday trade from their worst week since the global
financial crisis, as investors bet on further monetary stimulus
from central banks to limit the economic impact of the
coronavirus epidemic.
The blue-chip FTSE 100 closed up 1.1%, after falling
to its lowest level since 2016 on Friday, while the mid-cap
index ended a volatile day of trading 0.2% lower
London's main index was pushed higher by supermarket firms
Ocado , Sainsbury's and Morrisons after
Ocado advised customers to place orders further in advance
because of "exceptionally high demand", indicating a possible
reaction from shoppers to the spreading coronavirus outbreak.
British Prime Minister Boris Johnson said the country needed
to be prepared for the coronavirus to spread further and would
announce its main action plan for responding to the outbreak on
Tuesday.
The bluechip index was also boosted by oil majors BP Plc
and Royal Dutch Shell Plc as hopes of a supply
cut boosted oil prices.
Miners and luxury goods makers
rose between 3% and 2.4%, after being hit last week in a
worldwide sell-off that erased more than $5 trillion from equity
markets.
But interest-rate sensitive banks lagged the
wider rally on Monday, as investors expected central banks to
slash rates after data showed China's factory activity being
battered by the health crisis, which has infected more than
87,000 people and killed more than 3,000.
"Equity markets have become overly dependent on central
banks coming in anytime things look a bit shaky and essentially
throwing money at the problem - cutting interest rates,
government bond buying schemes," CMC Markets analyst David
Madden, said.
"If we have a health crisis whereby people, towns, cities
are locked out or in quarantine, how is an interest rate cut
really going to encourage people to go out and borrow and spend
more money?" he added.
The CME Group's FedWatch Tool now assigns a 100% chance that
the Fed will lower borrowing costs at its two-day meeting
concluding on March 18.
Airlines fell 1.9%, while car and auto parts
firms ended the day 8.31% lower as dealers took the
view that travel would be greatly diminished on account of the
coronavirus taking hold in Europe.
British Airways-owner IAG fell 8.2%.
In news-driven moves, mid-cap firm Senior , a
supplier to Boeing jumped 4.9% after saying it was taking
firm action to restructure its business and ensure a return to
growth in 2021.
Insurer Hiscox rose 4% after it said it had received
small claims related to the outbreak as a pandemic is only
covered in a very small part of its portfolio.
Drugmaker Hikma Pharmaceuticals rose 6.2% after
Barclays raised its price target.
(Reporting by Noor Zainab Hussain and Sagarika Jaisinghani,
Additional reporting by Shivani Kumaresan in Bengaluru;
Editing by Vinay Dwivedi and Lisa Shumaker)
UK earnings, trading statements calendar - next 7 days
Friday 19 April | |
888 Holdings PLC | Trading Statement |
Man Group PLC | Trading Statement |
Monday 22 April | |
Brave Bison Group PLC | Full Year Results |
Elixirr International PLC | Full Year Results |
Frenkel Topping Group PLC | Full Year Results |
Mobico Group PLC | Full Year Results |
South32 Ltd | Q3 Results |
Ten Lifestyle Group PLC | Half Year Results |
Tuesday 23 April | |
Alliance Pharma PLC | Full Year Results |
Alphawave IP Group PLC | Full Year Results |
Anglo American PLC | Trading Statement |
ASA International Group PLC | Full Year Results |
Associated British Foods PLC | Half Year Results |
Eleco PLC | Full Year Results |
GB Group PLC | Trading Statement |
Jupiter Fund Management PLC | Trading Statement |
Maintel Holdings PLC | Full Year Results |
Property Franchise Group PLC | Full Year Results |
Taylor Wimpey PLC | Trading Statement |
tinyBuild Inc | Full Year Results |
Trellus Health PLC | Full Year Results |
Wednesday 24 April | |
1Spatial PLC | Full Year Results |
abrdn PLC | Trading Statement |
Ecora Resources PLC | Trading Statement |
Fresnillo PLC | Trading Statement |
Lloyds Banking Group PLC | Q1 Results |
Nichols PLC | Trading Statement |
PensionBee Group PLC | First Quarter Results |
PZ Cussons PLC | Trading Statement |
Reckitt Benckiser Group PLC | Trading Statement |
Sanderson Design Group PLC | Full Year Results |
Serica Energy PLC | Full Year Results |
Star Energy Group PLC | Full Year Results |
Tortilla Mexican Grill PLC | Full Year Results |
Tracsis PLC | Half Year Results |
Warpaint London PLC | Full Year Results |
Thursday 25 April | |
Aquila European Renewables PLC | Full Year Results |
Argo Blockchain PLC | Full Year Results |
AstraZeneca PLC | Q1 Results |
Barclays PLC | Q1 Results |
Checkit PLC | Full Year Results |
Coca-Cola Europacific Partners PLC | Trading Statement |
Destiny Pharma PLC | Full Year Results |
Hikma Pharmaceuticals PLC | Trading Statement |
Focusrite PLC | Half Year Results |
Ibstock PLC | Trading Statement |
Inchcape PLC | Trading Statement |
J Sainsbury PLC | Full Year Results |
London Stock Exchange Group PLC | Q1 Results |
Persimmon PLC | Trading Statement |
PPHE Hotel Group Ltd | Trading Statement |
PureTech Health PLC | Full Year Results |
Relx PLC | Trading Statement |
Renewi PLC | Trading Statement |
Schroders PLC | Q1 Results |
Skillcast Group PLC | Full Year Results |
Travis Perkins PLC | Trading Statement |
Trifast PLC | Trading Statement |
Unilever PLC | Q1 Results |
WAG Payment Solutions PLC | Trading Statement |
Weir Group PLC | Trading Statement |
WH Smith PLC | Half Year Results |
WPP PLC | Trading Statement |
Zinc Media Group PLC | Full Year Results |
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