FTSE 100 rebounds as new virus cases drop, housebuilders jump

FTSE 100 rebounds as new virus cases drop, housebuilders jump

19 Feb 2020 02:49 PM
 

London's FTSE 100 rebounded in tandem with global markets on Wednesday as housebuilders advanced after HSBC upgraded its view on the stocks ahead of the first batch of results next week, while the number of new coronavirus cases in China fell.

The blue-chip index added 0.9%, with a sub-index of housebuilders hitting a record high. The FTSE 250  gained 0.4%, helped by a 7% jump in Hochschild Mining after it reported 2019 results and targets for 2020.

Both British benchmarks were coming off losses in the previous session due to a revenue warning from Apple that stoked fears over the economic fallout of the coronavirus outbreak.