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European shares gain as Britain delivers rate cut

Published 03/11/2020, 04:09 PM
Updated 03/11/2020, 04:16 PM
European shares gain as Britain delivers rate cut
UK100
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FCHI
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DE40
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ES35
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STOXX
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SX6P
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SXEP
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SX7P
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SXAP
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
March 11 (Reuters) - European shares rose for the first time
in five sessions on Wednesday, as Britain became the latest
country to cut interest rates in a bid to contain the economic
damage from the coronavirus epidemic.
The benchmark STOXX 600 .STOXX was up 1.4% at 0803 GMT,
with London's FTSE 100 .FTSE rising 1.5% after the Bank of
England cut rates for the first time since August 2016.
The move also lifted sentiment in Germany .GDAXI , France
.FCHI and Spain .IBEX , with bourses there adding between
1.4% and 2.2% following four days of declines on the double
shock of a collapse in oil prices and the rapid spread of the
virus.
All the European sub-sectors were trading higher, with the
oil and gas .SXEP , utilities .SX6P , autos .SXAP and
banking .SX7P indexes among the biggest gainers.

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