BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rallied on Wednesday after the U.S. Federal Reserve delivered a surprise rate cut and a survey showed Britain's economy grew at its fastest rate since September 2018 last month on the back of a jump in construction activity.
The composite IHS Markit/CIPS UK Purchasing Managers' Index rose to 53.0 in February from 52.8 in January, despite small losses in momentum in the larger services and manufacturing sectors.
The benchmark FTSE 100 was up 83 points, or 1.25 percent, at 6,802 after adding 1 percent in the previous session.
DS Smith shares gained 2 percent. In its trading update for the period since 1 November 2019, the packaging company said that trading continues to progress well despite macro-economic uncertainty.
Severn Trent advanced 1.6 percent. The water and waste water company announced its plan to invest 1.2 billion pounds to deliver sustainability commitments for the future.
Legal & General shares gained 1.5 percent. The insurance giant reported a 12 percent rise in 2019 operating profit on record company pension deals.
Wizz Air Holdings soared 4 percent. In its trading update, the budget airline said it has implemented measures 'to address the financial implications of covid-19'.
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