Britain's top equity index rose on Wednesday as positive corporate updates helped calm the mood after a sharp sell-off in the previous session due to plunging oil prices.
The blue-chip FTSE 100 index rose 1.5%, aided by a recovery in banks stocks and miners, while the domestically oriented midcap shares rose 0.7%.
Shares of Irish building group CRH jumped 7% after it said stimulus actions could mitigate the hit from the coronavirus outbreak and that it would go ahead with a 15% rise in 2019 dividend, pending shareholder approval.
Data showed Britain's inflation rate dropped in March when oil prices tumbled and the health crisis escalated, with a fall in clothing and footwear prices indicating how cautious shoppers were turning.
However, online fashion retailer Boohoo rose 4.7% after it said its performance recovered in recent weeks even as sales growth dipped in the middle of March due to lockdown measures.
Power producer Drax Group surged 8% as it forecast 2020 core profit in line with market expectations despite the hit from the pandemic and said it expects to pay 2019 dividend.
Specialist insurer Beazley Plc fell 3.9% after it estimated coronavirus-related claims at $170 million and posted a quarterly loss due to sell-off in financial markets.
The FTSE 100 has recovered about 16% from mid-March lows as central banks and governments took unprecedented steps to shield the global economy.
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