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UK stock markets headed higher as investors hoped for improved economic activity with several countries lifting restrictions, while energy stocks tracked a jump in oil prices.
The FTSE 100 was up 1.6 per cent, with BP Plc and Royal Dutch Shell Plc contributing to the biggest boost, while the domestically focussed FTSE 250 added 1.3 per cent.
UK Prime Minister Boris Johnson is expected to review the nationwide shutdown this week, with a report saying the government will recommend sweeping changes to workplaces to avoid a second wave of infections.
UK 100
Meanwhile, low-cost airlines Ryanair and Wizz Air reported a near total wipeout in passenger numbers in April, but their shares rose 3.1 per cent and 0.3 per cent, respectively, after Wizz Air said it expected its figures to improve in May.
At the same time, European stocks also rose. The pan-European STOXX 600 rose 1.7 per cent by 0716 GMT, after a three-day run of losses.
Total SA gained 5.8 per cent after it maintained its dividend despite reporting a sharp fall in first-quarter net adjusted profit due to a plunge in oil prices.
Europe’s oil and gas sector also got a boost from surging crude prices on expectations that fuel demand will begin to recover as some US states as well as countries in Europe and Asia start to ease coronavirus lockdown measures.
Among other companies that reported, German meal-kit delivery firm HelloFresh surged 5.8 per cent after it raised its 2020 forecast as continued lockdowns boosted its first-quarter performance in international markets.
Copenhagen-based jewellery maker Pandora rose 6.2 per cent after saying it was encouraged by higher online sales and the reopening of stores in Germany and some other countries.
