FTSE 100 Extends Gains For Third Day

U.K. stocks rose on Wednesday to extend gains for the third straight session as investors cheered lockdown easing news as well as upbeat outlooks from AstraZeneca and Standard Chartered.

The benchmark FTSE 100 was up 53 points, or 0.89 percent, at 6,011 after climbing 1.9 percent on Tuesday.

Drugmaker AstraZeneca rose 0.8 percent as it reported strong revenue and profit growth for the first quarter of 2019 and reiterated its 2020 forecast.

Standard Chartered Plc shares jumped 3.7 percent. After reporting a 12 percent fall in first-quarter net profit, the bank said it is seeing encouraging signs in China that the recovery could be yet more rapid than that.

International Consolidated Airlines Group SA (IAG), the parent company of British Airways, fell over 2 percent after announcing plans to cut nearly 12,000 jobs at the U.K. carrier.

BP Plc shares and Royal Dutch Shell both surged over 4 percent as oil prices rebounded on the back of lower-than-expected rise in U.S. stockpiles.

Retailer Next Plc dropped 1.4 percent after saying it expects full-year sales to fall by as much as 40 percent in a worst-case scenario.

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