FTSE closes worst quarter since 1987

European traders were bullish as the markets were buoyed by comments suggesting the coronavirus outbreak could be starting to plateau in some regions.

Nevertheless, it was not enough to stop the FTSE posting its worst quarter since 1987.

The index closed 108.22 points higher at 5,671.96 as multinational organisations were also boosted by positive industry figures from China overnight.

Neil Wilson, chief market analyst for Markets. com, said March “comes in like a lion and goes out like a lamb”. He added: “The blue-chip index has given up about 2,000 points, or 25 per cent, in three months. For March, the FTSE declined 14 per cent, but it was a lot worse at one stage.

Meanwhile, sterling made minor gains against the dollar and euro despite official figures

showing that the economy stagnated at the end of 2019.

The value of the pound rose 0.03 per cent versus the US dollar at $1.242 and was up 0.49 per cent against the euro at €1.130.

In company news, firms in the aerospace and travel sectors led a rebound, with the likes of Carnival, IAG and Rolls-royce returning to positive territory.

The listed supermarket firms were mixed – despite new figures showing that March was their busiest month on record.

Domino’s Pizza Group closed up 15.6p to 284p after it appointed the former boss of Costa Coffee as its new chief executive.

The price of oil rebounded after falling to an 18-year low on Monday. The price of a barrel of Brent crude oil increased 16.5 per cent to $26.42.