March 11, 2020 / 8:11 AM / a month ago

European shares gain as Britain delivers rate cut

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

March 11 (Reuters) - European shares rose for the first time in five sessions on Wednesday, as Britain became the latest country to cut interest rates in a bid to contain the economic damage from the coronavirus epidemic.

The benchmark STOXX 600 was up 1.4% at 0803 GMT, with London's FTSE 100 rising 1.5% after the Bank of England cut rates for the first time since August 2016.

The move also lifted sentiment in Germany, France and Spain, with bourses there adding between 1.4% and 2.2% following four days of declines on the double shock of a collapse in oil prices and the rapid spread of the virus.

All the European sub-sectors were trading higher, with the oil and gas, utilities, autos and banking indexes among the biggest gainers. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Anil D'Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below