UK stocks posted early gains after the S&P500 index hit more all-time highs yesterday, driven by a strong jobs report and a record high in service sector activity.
In addition, UK car sales rose around 11% in the key selling month of March. While showrooms have been closed for most of the past year, dealerships have kept sales afloat thanks to ‘click and collect’ and delivery services.
By 8.30am the FTSE 100 index was 1.2% or 77 points higher at 6,815 points led by mining and industrial stocks as investors bet on the global recovery trade.
The FTSE 250 mid-cap index was also 1.2% higher at 21,990 points with a strong showing for bus, rail and travel stocks in general.
Oil major BP (BP.) announced it had reached…