May 5, 2020 / 7:15 AM / 22 days ago

London stocks gain as economies reopen from lockdown

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* FTSE 100 up 1.6%, FTSE 250 up 1.3%

May 5 (Reuters) - UK stock markets headed higher on Tuesday as investors counted on a revival in economic activity with several countries lifting coronavirus-induced restrictions, while energy stocks tracked a jump in oil prices.

The blue-chip FTSE 100 was up 1.6%, with BP Plc and Royal Dutch Shell Plc providing the biggest boost, while the domestically focussed FTSE 250 added 1.3%.

Both benchmark indexes were set to snap a three-day losing streak, supported by broad-based gains for miners, banks, and travel and leisure stocks, as hard-hit countries including the United States and Italy relaxed stay-at-home orders.

UK Prime Minister Boris Johnson is expected to review a nationwide shutdown this week, with a report saying the government will recommend sweeping changes to workplaces to avoid a second wave of infections.

Meanwhile, in another sign of the economic damage from the COVID-19 pandemic, low-cost airlines Ryanair and Wizz Air reported a near total wipeout in passenger numbers in April, but their shares rose 3.1% and 0.3%, respectively, after Wizz Air said it expected its figures to improve in May. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Anil D’Silva)

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