BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Wednesday amid bets that global policymakers will do more in order to support economic activity hit by the coronavirus pandemic.
The benchmark FTSE 100 rose by 26 points, or 0.41 percent, to 6,268 after rallying 2.9 percent on Tuesday.
Boohoo shares surged nearly 9 percent. The online fashion group upgraded its profit forecasts after reporting a 45 percent jump in sales during the Covid crisis.
HSBC Holdings edged up slightly after reports that it has resumed the plan of cutting 35,000 jobs over the medium term.
Serco Group shares surged as much as 17 percent. The provider of public services reinstated financial guidance and said underlying trading profit for the first half would be about 50 percent higher based on strong revenue growth.
Construction firm Berkeley Group Holdings rallied 3.8 percent. The company said it is well placed to manage the current period of uncertainty without call on the Government's furlough scheme or its Covid Corporate Financing Facility.
On the data front, U.K. inflation eased to a four-year low in May, the Office for National Statistics said.
Consumer price inflation eased to 0.5 percent in May, as expected, from 0.8 percent in April. This was the lowest since June 2016, when a similar 0.5 percent was reported.
On a monthly basis, consumer prices remained unchanged after easing 0.2 percent in April. Prices were expected to drop 0.1 percent.
Core inflation slowed to 1.2 percent from 1.4 percent in April. The expected rate was 1.3 percent.
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