UK stocks bounced Friday and are slated for its first weekly rally in a month, as oil prices recuperated from multiyear troughs and traders speculated on additional monetary stimulus to be implemented in the eurozone.
The FTSE 100 closed at 5,869.53, up 1.7%, as gains in financial, mining, and oil and gas shares ignited surges in all sectors. This would be the benchmark’s first weekly acceleration since December 24.
Blue chips ascended following European Central Bank President Mario Draghi hinted at reconsidering their stance on monetary policy at its March meeting as China’s economic slowdown and market turmoil threaten to affect the European economy.
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