The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO
Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPOView Video
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant
Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plantView Video

Latest Share Chat

UPDATE 2-TUI leads London stocks rebound; NMC, Intu miss out

Tue, 11th Feb 2020 09:05

* FTSE 100, FTSE 250 up 0.7%

* Virus death toll climbs beyond 1,000

* Signs of slowdown in new reported cases

* TUI top gainer on main index

* William Hill up after deal with CBS Sports
(Adds news items, analyst comments, graphic, closing prices)

By Shashwat Awasthi

Feb 11 (Reuters) - UK shares rebounded on Tuesday from two
sessions of losses after China's senior medical adviser
suggested the coronavirus epidemic may be over by April and U.S.
Federal Reserve chief Jerome Powell touted resilience in the
American economy.

The FTSE 100 added 0.7%, helped by a 12% surge in
travel company TUI after it said strong demand for
holidays would help offset a hit from the Boeing 737 MAX
aircraft groundings on its annual profit.

Airlines easyJet and British Airways-owner IAG
also added roughly 4% each.

The mid-cap FTSE 250 rose 0.7%, helped by a 7% jump
in William Hill after the bookmaker announced a
partnership with U.S.-based CBS Sports.

Fed chief Powell remained fairly upbeat about the outlook
for the U.S. economy, though he warned the coronavirus could
lead to disruptions in China that spill over to the rest of the
global economy.

"The global stock market rally is being powered by central
banks and, with a lot of the January and February data being
tossed out the window, risk appetite may run wild for a few more
weeks," OANDA analyst Edward Moya said.

"The People's Bank of China will remain active in delivering
more easing and with the Fed possibly on standby, risky assets
could remain attractive in the short-term."

Britain's benchmark stock indexes have mirrored volatile
swings in global markets over the past few weeks as the
China-linked virus spreads, raising concerns about a widespread
hit to economic growth.

The death toll from the outbreak has now crossed 1,000 but
investors drew some comfort from signs from a slowdown in new
cases in Hubei province as well as the steps Beijing has taken
to pump more cash into the economy.

After soaring more than 30% in the previous session, shares
in NMC Health gave up half those gains as private equity
firm KKR said it did not intend to make an offer for the
healthcare provider.

Intu Properties handed back almost all its
advances from Monday and tanked nearly 30% to a fresh life low
after saying Hong Kong-based Link REIT would not
participate in its cash raise.

(Reporting by Shashwat Awasthi in Bengaluru Editing by Patrick
Graham/Mark Heinrich)

Related Shares

More News
28 Mar 2023 07:38

William Hill fined record £19.2m by UK regulator for social failings

(Sharecast News) - UK gambling company William Hill has slapped with a record £19.2m fine by the UK gambling regulator for customer protection an...

9 Sep 2021 07:04

888 Holdings wins race for William Hill non-US business

(Sharecast News) - Gambling company 888 Holdings on Thursday said it had won the race to buy the non-US international business of William Hill from Ca...

9 Sep 2021 07:04

888 Holdings wins race for William Hill non-US business

(Sharecast News) - Gambling company 888 Holdings on Thursday said it had won the race to buy the non-US international business of William Hill from Ca...

20 Apr 2021 11:26

UPDATE 2-William Hill gets court approval for $4 bln takeover by Caesars

* Court approved scheme likely to be effective Thursday* WMH shareholder HBK had sought clarity on Caesars JV* Trans-Atlantic gambling takeover deals ...

12 Apr 2021 17:30

UPDATE 2-Grand National sets record for UK online sports betting

* Entain estimates more than 100 mln stg bet on the race overall* But takings lower than previous years due to shop closures (Adds comments from 888)B...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.