London stocks bounce back from biggest slump since 2015

  • Reuters
  • Stock Market News
London stocks bounce back from biggest slump since 2015
Credit: © Reuters.

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* FTSE 100 up 0.4%, FTSE 250 rises 0.5%

* Tullow Oil , Vivo Energy lead gains on mid-cap index

* Prudential jumps on Third Point stake

Feb 25 (Reuters) - London-listed stocks rebounded on Tuesday after slumping to a four-month low in the previous session, as a rapid increase in coronavirus cases outside China raised hopes of further monetary stimulus to limit the damage to the global economy.

The blue-chip FTSE 100 .FTSE gained 0.4%, a day after logging its worst day since 2015 on a surge in virus cases in South Korea, Iran and Italy. Fears of a pandemic had wiped $1.5 trillion off global equity markets on Monday.

The White House has sought about $2.5 billion to fight the deadly virus, with more than $1 billion earmarked for developing a vaccine. domestically focussed mid-cap index .FTMC added 0.5%, led by gains in Tullow Oil TLW.L and Vivo Energy VVO.L .

Insurer Prudential Plc PRU.L rose 2.9% after hedge fund Third Point amassed a stake of over $2 billion and called on the company to split into two. The stock was the biggest gainer on the FTSE 100.

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