London stocks gain after BoE extends stimulus programme | Malay Mail

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LONDON, Nov 5 — London stocks rose today after the Bank of England extended a stimulus programme to cushion Britain’s struggling economy as England goes into a second national lockdown. The blue-chip FTSE 100 index inched 0.2 per cent higher, boosted by stocks of industrials and retailers, but...

The domestically focused mid-cap FTSE 250 gained 0.2 per cent, with shares in rail and coach ticketing company Trainline Plc jumping 5.0 per cent as JP Morgan upgraded the stock to ‘overweight’ after first-half results. — Reuters pic

The domestically focused mid-cap FTSE 250 gained 0.2 per cent, with shares in rail and coach ticketing company Trainline Plc jumping 5.0 per cent as JP Morgan upgraded the stock to “overweight” after first-half results. “An extraordinary economic shock warrants an extraordinary policy response. Today’s announcement shows once again that the Bank is committed to supporting the government in its economic response to the pandemic,” said Ambrose Crofton, global market strategist at J.P. Morgan Asset Management.

“A reintroduction of a furlough scheme will be much more important in dealing with the impact of the new lockdown measures in the short term,” said Neil Birrell, chief investment officer, Premier Miton Investors.

 

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