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* FTSE 100 up 1.4%, FTSE 250 up 1.1%
* Meggit top decliner on rating downgrade
March 10 (Reuters) - London's FTSE 100 bounced back on
Tuesday from its worst session since the 2008 financial crisis,
as investors bet on co-ordinated stimulus measures by major
central banks to shield the global economy from the impact of
the coronavirus outbreak.
The blue-chip FTSE 100 .FTSE was up 1.4%, after falling to
its lowest level since 2016 on Monday as a crash in oil prices
fanned fears of a sharp slowdown in global growth.
BP Plc BP.L and Royal Dutch Shell Plc RDSa.L tracked a
rebound in oil prices after closing Monday with their worst
session on record.
Investor attention in Britain will be on a budget speech by
Finance Minister Rishi Sunak on Wednesday for clues on
additional stimulus from the Bank of England. A 26% jump for Premier Oil PMO.L helped the domestically
focussed mid-cap index .FTMC add 1.1%.
Aerospace firm Meggit MGGT.L fell 1.2% to the bottom of
the FTSE 100 after Berenberg downgraded it to "hold" and cut its
price target.
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Stimulus hopes boost FTSE 100 after worst day since 2008
Published 03/10/2020, 04:20 PM
Updated 03/10/2020, 04:24 PM
Stimulus hopes boost FTSE 100 after worst day since 2008
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