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UK markets rallied in late morning trading on Tuesday, jumping around 3.8%, as governments around the world continued to pledge big stimulus measures to insulate their economies from the spreading coronavirus.
At 11:40, the benchmark FTSE 100 index was up 188 points, or 3.8%, to 5,182.28, led by a selection of financial and resources stocks. Mining group Polymetal led the way, closely followed by insurer Prudential, both leaping roughly 13% to £12.88 and 901.4p respectively, while oil major Royal Dutch Shell made 12% gains at £11.946.
Leading the day's FTSE fallers was broadcaster ITV, down 4.5% at 57.32 as it continued to struggle with advertising rates.
In corporate news, shoe and sportswear retailer JD Sports Fashion jumped 7.5% to 391p, even as it shuttered all of its stores in the UK, US and Europe.
JD Sports said it would continue to accept online orders and that it had 'more than adequate' cash and debt resources to ride out the storm.
Mining company Rio Tinto advanced 6% to £32.945, despite announcing that it would halt and slow down operations in South Africa and Quebec, Canada, respectively, due to government moves to combat Covid-19.
Fellow miner Anglo American rose 7% to £11.696 while announcing that it was reviewing its options in South Africa.
BUSY CASINO BETTING
Betting firm 888 was a big winner on Tuesday after flagging busier casino and online betting during the current lockdown. Shares in the business jumped more than 33% to 111p.
Home builder Redrow firmed 3% to 347.5p even as it joined a long list of companies deciding to cancel their dividends.
Redrow said it hadn't yet felt pain from Covid-29 but expected its sales rate to be 'seriously impaired' over the coming weeks.
Luxury handbag maker Mulberry soared 13% to 150.5p, while warning it now expected to make a small loss in the second half of its financial year after closing its UK stores.
Going the other way was miniature wargames retailer Games Workshop. It saw its share price plunge nearly 7% to £40.06 after it also closed all of its stores, plus its headquarters, factory and warehouses.
Logistics company Eddie Stobart rallied 7% to 12.62p as it experienced an 'exceptional rise' in volumes usually seen around Christmas.
The company, however, suggested it was too early to draw conclusions about the impact on its financial performance.
PROFITS JUMP FOR YOUGOV
Polling and data analytics company YouGov jumped 6% to 425p, having revealed a 27% rise in first-half adjusted profit.
YouGov said it hadn't yet been hurt by Covid-19 but was reviewing spending as a precaution.
Furniture and flooring retailer ScS gained 7.4% to 166.5p, as it touted the strength of its balance sheet, having closed its stores and distribution network.
Outdoor advertising company Ocean Outdoor bounced off earlier lows to stay flat at $0.054, having warned its performance would fall short of previously published market expectations as the coronavirus shrinks demand for advertising.