BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose sharply on Tuesday as several countries tentatively eased restrictions on movement in a bid to revive global economies.
Investors shrugged off a survey showing that U.K. service sector contracted sharply in April. The IHS Markit/Chartered Institute of Procurement & Supply services Purchasing Managers' Index plunged to 13.4 in April from 34.5 in March as emergency public health measures to stem the coronavirus, or covid-19, pandemic weighed on business activity,
Latest data signaled survey-record declines in new work, backlogs and employment across the service economy. Adding to downward pressure on sales volumes, new business from abroad slumped in April.
The benchmark FTSE 100 was up 67 points, or 1.16 percent, at 5,820 after closing 0.2 percent lower on Monday.
Budget airline Ryanair Holdings rose about 1 percent despite posting dismal trading performance for April.
Property company LondonMetric Property gained 2 percent after announcing it will raise GBP100 million to fund acquisitions.
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