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FTSE creeps up at glimpse of lockdown exit

FTSE creeps up at glimpse of lockdown exit

The UK’s blue chip index opened in the green this morning after prime minister Boris Johnson last night confirmed parts of the economy would start reopening their doors in the next few weeks.

The FTSE 100 is up nearly 2 per cent (1.92 per cent) since markets opened this morning, breaking the 6,000 points barrier to sit at 6,103 points.

Mr Johnson’s announcements have also affected the FTSE 250, which is more exposed to the UK economy and opened up 2.5 per cent this morning (May 22).

Yesterday evening (May 21) Mr Johnson announced the government would begin lifting restrictions on certain sectors of the economy in June.

From June 1, markets in open spaces and businesses such as car showrooms would be allowed to open their doors, while non-essential retail shops can open using social distancing measures from June 15.

He said: “These are careful but deliberate steps on the road to rebuilding our country. And we can only take these steps thanks to what we have so far achieved together.”

Mr Johnson had previously confirmed nurseries and particular years in primary schools would reopen from June 1.

The FTSE 100’s biggest risers this morning include International Consolidated Airlines group, up 16 per cent, alongside InterContinental Hotels Group and EasyJet.

Retailers such as JD Sports, Next and Burberry have also boosted the index, with their share prices jumping by as much as 7 per cent this morning.

imogen.tew@ft.com

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