International markets enjoy bullish day

Global markets had a fairly bullish session, as investors hoped that countries might start to ease their coronavirus lockdowns.

The FTSE 100 ended the day on 5,849.42 points, up 95.64 or 1.7 per cent.

London’s top index floated on oil, as major producers BP and Shell notched up strong wins. The companies owed their fortunes to the price of oil, which rallied on signs that demand might be picking back up.

The price of a barrel of Brent crude, the international standard, rose by around 10 per cent, climbing above $30 for the first time in weeks.

Spreadex analyst Connor Campbell said: “Firmly focused on the various lockdowneasing measures being implemented, or set to be implemented, around the globe, the markets kept up their rebound throughout [the day].”

Some of the biggest markets in Europe notched up Ftse-beating wins for the day. The German Dax index rose 2.5 per cent, with France’s Cac up 2.4 per cent.

Across the pond, the Dow Jones and S&P 500 were trading up around 1.6 per cent and 1.8 per cent respectively, shortly after markets closed in the UK.

The pound was practically flat against the dollar at $1.2448, but gained 0.6 per cent against the euro to €1.1479.

Shares were remarkably unchanged as workwear group Johnson Service said it lost 97 per cent of sales in the hospitality sector last month as restaurants and hotels shut down. It closed down 0.3 per cent at 118.4p. It was very different for Air Partner, whose shares soared by 27 per cent to end the day at 49p after it reported a “record month” in April. The company said it had been boosted by repatriation flights and moving vital medical equipment between countries.

Low-cost airline Ryanair also saw a small gain, up 2.5 per cent to 9.5p despite revealing that it carried 99.6 per cent fewer passengers in April. Wizz Air also rose, by 0.4 per cent to 2,620p, after saying it would launch six new routes serving Luton Airport from next month.

Housing services group Mears jumped 4 per cent to 170p after bosses said operating losses during the lockdown will be “modest” – even though the company moved to an “emergency only” service.