Leisure Stocks, Retailers Boost FTSE 250 as England Reopens

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May 17 Reuters Londons FTSE 250 rose on Monday, boosted by leisure and retail stocks, as swathes of British economy were to set to reopen after a fourmonth gloom of COVID19 lockdown.

The domestically focused midcap index advanced 0.3.

Retailers, homebuilders and personal goods makers were among the biggest gainers.

Broadly, from Monday in England, gatherings of up to 30 people will be allowed outdoors, two families will be allowed to meet indoors; cafes, bars and restaurants will reopen for indoor service; and face coverings will no longer be compulsory in schools.

The bluechip FTSE 100 index inched 0.02 lower as heavyweight oil majors BP and Royal Dutch Shell and banking stocks, fell and a stronger pound weighed on the index.

Homebuilder Vistry Group added 2.7 after it raised its annual profit forecast on strong demand, as the housing sector benefits from an extension of a property tax holiday and lower interest rates.

Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V

Source Reuters

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