Company News

British stocks rise on fresh stimulus hopes, Chinese data

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* FTSE 100 up 0.9%, FTSE 250 adds 0.4%

Sept 3 (Reuters) - London shares rose on Thursday as investors bet on new stimulus measures to drive a faster post-pandemic economic rebound, while a sustained recovery in China’s services sector also lifted sentiment.

The FTSE 100 rose 0.9%, climbing for the second straight session, with life insurers and travel stocks leading gains, while the mid-cap index advanced 0.4%

Bank of England Deputy Governor Dave Ramsden on Wednesday hinted of more liquidity as he warned of higher risks to Britain’s economy from the coronavirus crisis than spelt out by the central bank last month.

In company news, drugmaker GSK rose 1% and was among the biggest boosts to the FTSE 100 after announcing a clinical trial of a COVID-19 vaccine candidate along with French drugmaker Sanofi. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)