BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose sharply on Tuesday, with resource companies leading the surge on hopes that China will unveil more stimulus measures to aid companies hit by the coronavirus outbreak and also shore up financial markets.
A softer pound also helped markets extend their recovery from last week's selloff. The pound extended its drop versus the greenback and the euro on concerns over post-Brexit trade talks between the U.K. and the European Union.
The benchmark FTSE 100 was up 97 points, or 1.33 percent, at 7,424 after rising 0.6 percent in the previous session.
Mining giant Anglo American rallied 3.2 percent, Antofagasta advanced 3.7 percent and Glencore surged 4.6 percent.
Mining and commodities trader Glencore today reported a 6 percent fall in fourth-quarter copper production.
Oil and gas giant BP Plc soared 4.6 percent after its fourth-quarter profit beat analyst estimates. Royal Dutch Shell shares climbed 2 percent.
Shares of Micro Focus International slumped 14 percent after the enterprise software company reported a loss in its fiscal year 2019.
Property company Land Securities Group rose about 1 percent. The company announced that Mark Allan will start as its Chief Executive Officer and a Director with effect from May 1.
Irish budget airline Ryanair Holdings gained 0.6 percent after releasing its Group traffic figures for the month of January 2020.
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