UK shares rose on Tuesday as a recovery in oil prices and a surprise expansion in Chinese factory activity revived confidence in equity markets amid a deep selloff this month that set the FTSE 100 on course for its worst quarter since 1987.
The index rose 2.1%, with turnaround specialist Melrose Industries surging 19% after it secured a debt covenant waiver and said it was cutting expenses in an effort to ride out the coronavirus crisis.
The FTSE 100 has recovered about 15% since hitting a near nine-year low on March 16, but remains nearly 25% below its January record high as entire countries enforced stay-at-home orders due to the outbreak, halting business activity.
26 May 2020 11:15 AM
The yuan edged higher against the U.S. dollar on Tuesday as risk appetite improved
26 May 2020 10:46 AM
Gold ticked higher on Tuesday as brewing Sino-U.S. tensions over Hong Kong lifted demand for the safe-haven metal, though easing coronavirus-induced lockdown restrictions supported equities and capped bullion's gains.
26 May 2020 10:34 AM
The Indian rupee was at 75.71/75.72 to the dollar, against 75.95/75.96 in the previous session
26 May 2020 09:45 AM
Oil prices rose on Tuesday on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world.
26 May 2020 09:17 AM
The dollar inched lower on Tuesday as growing optimism about a global recovery from the COVID-19 pandemic supported riskier currencies
26 May 2020 08:46 AM
The Indian rupee is expected to open higher against the dollar