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UK stocks moved sharply higher on Wednesday as Google-owner Alphabet posted better-than-expected sales overnight and trading updates from UK firms were mostly positive.
By the close the benchmark FTSE 100 index was up 157 points or 2.6% to 6,115, breaking well and truly through the 6,000 level for the first time since early March.
Barclays was among the biggest gainers, rising 12.7% to 110.8p even as it reported a 40% drop in first-quarter profit owing to a £2.1bn credit impairment charge due to the coronavirus pandemic.
Fellow lender Standard Chartered gained 11.6% to 435p after its profit fell 29% in the first quarter, as it too posted a significant rise in credit impairments linked to the crisis.
Advertising group WPP gained 8.7% to 642p on announcing that it had won several new significant clients despite the crisis, as its revenue slipped 4.9% in the first quarter.
Aerospace firms Meggitt and Rolls-Royce were up 10% to 299p and 12% to 357.6p respectively, after results from airplane maker Airbus were well received by investors with shares rising 9% to €57.7 in Paris.
Travel firms Carnival and TUI were also big gainers, adding 16% to £11.60 and 11% to 344p as more countries in Europe looked to ease lockdown restrictions.
House builder Persimmon added 3.9% to £22.95 as it said customer enquiries during the UK's lockdown had remained at 'good levels' ahead of it reopening building sites from this week.
Chemicals company Synthomer firmed 3.7% to 289p as it revealed strong demand for one of its chemicals commonly used in disposable gloves for the medical and health sectors.
Specialist fuel, food and animal feed distributor NWF rallied 19% to 197p, having forecast a substantial improvement in performance, as the Covid-19 crisis increased demand for food and the falling oil price helped customers in its fuel business.
Train and bus ticket portal Trainline advanced 1.6% to 364p after its lenders waived a financial covenant in respect of its £350m revolving credit facility until August 2021.
Phone and electronics retailer Dixons Carphone jumped 18% to 81p, even as it ditched its full-year dividend, after it reported a surge in online sales and in the Nordic regions which helped to offset lost sales in its UK stores.
Shares in clothing retailer Next reversed earlier losses to climb 4% to £49.75 despite a 38% sales slump in the first quarter, a decline the company said was steeper than it had feared. The company also suspended dividends and cancelled its share buyback.
Insurance company Hiscox dropped 3.6% to 706p as it confirmed media speculation that it was mulling a potential equity raising to help it weather the current crisis.
Collectible stamp retailer Stanley Gibbons dipped 2% to 2.5p amid a 'huge' impact from the Covid-19 crisis. The company said it had cancelled a planned auction in May but was planning to hold its next auction online.