The FTSE 100 index rose 1 per cent, recovering from early losses as AstraZeneca gained 4.4 per cent after US regulators approved its treatment against an aggressive type of lung cancer in previously untreated patients. — Reuters pic
A weaker pound following a Fitch's cut to Britain's sovereign debt rating also helped the big dollar earners on the index. Adding to woes for domestic businesses, a senior medical officer said on Sunday some lockdown measures in Britain could last months and only be gradually lifted. Still, the FTSE 100 is still headed for its worst month in more than three decades and is down about 28 per cent since hitting a peak in January.
Travel stocks have taken a beating, as the fast-spreading coronavirus triggered lockdowns globally, forcing airlines, and cruise and travel operators to scramble for cash to survive.
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