LONDON, April 27 — London-listed shares joined a global rally today as signs of an easing in the coronavirus outbreak raised hopes that a month-long lockdown would be relaxed, while diagnostics firm Novacyt surged on news of a supply contract with the UK government.
The clinical diagnostics company jumped 12.2 per cent after saying it would supply its coronavirus testing kits to the UK’s Department of Health & Social Care for an initial period of six months starting next week.
The domestically-focused midcap index rose 1.9 per cent, as Prime Minister Boris Johnson returned to Downing Street almost a month after he was diagnosed with Covid-19, with a report saying he could announce plans to ease the lockdown as early as this week.
The commodity-heavy FTSE 100 also added 1.5 per cent, with the financials and industrials sectors providing the biggest boost.
Holiday Inn-owner InterContinental Hotels said it had agreed changes to the terms of its borrowing and made use of UK government supported loans as it predicted a 25 per cent plunge in global revenue per available room in the first quarter. Its shares rose 4.1 per cent. — Reuters