China stimulus hopes lift miners
EasyJet climbs after forecasting smaller loss
Endeavour Mining, Centamin rise on Liberum upgrade
FTSE 100 up 0.3, FTSE 250 adds 0.7
Jan 24 Reuters The UK39;s bluechip index rose on Wednesday, buoyed by Chinaexposed stocks following measures taken by the central bank to support the economy, while shares in Easyjet surged after the airline forecast a smaller loss.
Miners Anglo American, Antofagasta and Glencore climbed between 2.1 and 3.3 after China39;s central bank governor said it will cut the amount of cash that banks must hold as reserves from Feb. 5, bolstering efforts to shore up a fragile economic recovery.
Asiaexposed insurer Prudential rose 1.4, while luxury firm Burberry added 2.3.
It has always been our view that while the market was expecting a big infrastructure stimulus type of announcement, the piecemeal measures that are in place, taken together, would be enough to underpin growth in the region, said Frederique Carrier, head of investment strategy for RBC Wealth Management.
So we are still involved in China, but it39;s a lot more selective in terms of our holdings.
The exporterheavy FTSE 100 edged up 0.3, while domestically oriented FTSE 250 index added 0.7.
Broader European markets also got a boost from upbeat earnings reports after New York39;s SP 500 closed at a record high for the third consecutive session on Tuesday.
The pound got a lift from a survey that showed British services firms saw another uptick…