London stocks rise

The export-laden FTSE 100 climbed 0.3% and the mid-cap FTSE 250 added 0.8%, as China's exports rose in April for the first time this year with factories racing to make up for lost sales due to the coronavirus shock.

Miners, tracking a jump in commodity prices, were the top boost to the FTSE 100, while financials gained as a "desk top" stress test by the Bank of England showed top lenders can withstand the economic fallout of the COVID-19 pandemic.

In further signs of the business hit from the health crisis, aero-engine maker Rolls-Royce fell 4.3% after reports that it was considering cutting up to 8,000 jobs to weather the global aerospace sector slump.

Britain's biggest telecoms group BT tumbled 8.6% to the bottom of the FTSE 100 as it suspended its dividend until 2021-22 and pulled its financial outlook.

In a bright spot, insurer RSA jumped 5% after it estimated its exposure to the outbreak at just 25 million pounds ($31 million) and said most of its business interruption policies did not offer cover.

Copyright Reuters, 2020

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