UK Markets News

UK shares fell for the first time this week on Friday, as fears over Washington's response to Beijing tightening its control over Hong Kong overshadowed optimism about a pickup in business activity with the easing of coronavirus-induced lockdowns.

European shares rose for a fourth straight session on Thursday, as optimism over businesses returning to work and stimulus for the battered euro zone economy outweighed rising U.S.-China tensions.

UK shares ended higher on Thursday, helped by drugmakers AstraZeneca and GSK as markets looked for more progress in the development of a COVID-19 vaccine, while optimism over the reopening of the economy persisted.

The recovery from the coronavirus financial crash will take time for European stocks which are expected to end 2021 around 10% below this February's record high, a Reuters poll of about 30 fund managers, strategists and brokers showed.

London-listed stocks notched up their strongest close since early March on Wednesday amid sustained hopes of an economic recovery from the coronavirus pandemic, even as unrest in Hong Kong cast some doubt over Sino-U.S. relations.

Euro zone stocks were buoyed on Wednesday by a 750-billion-euro ($824 billion) plan to prop up EU economies hammered by the coronavirus crisis, but falls for healthcare and technology stocks weighed on broader European markets.

The profits of Europe's biggest listed firms are expected to halve in the second quarter, as lockdowns implemented across the continent to curb the spread of the COVID-19 pandemic triggered a massive recession, I/B/E/S data from Refinitiv showed.

British Prime Minister Boris Johnson's plans to lift the coronavirus lockdown from more retailers drove a 1.2% rise in the blue-chip FTSE 100 on Tuesday, while an easing of curbs on tourism helped travel stocks.

European shares closed at an 11-week high on Tuesday, with travel and leisure stocks soaring on hopes of a revival in tourism as countries gradually reopened after a months-long lockdown.