London Markets: British stocks rise as investors bet on more coronavirus stimulus

London Markets: British stocks rise as investors bet on more coronavirus stimulus

British stocks rose on Wednesday as investors predicted more stimulus to mitigate the coronavirus impact after the Federal Reserve's surprise rate cut.. climbed 1.4% as the U.K.'s blue-chip index continued to recover from its worst week since the 2008 financial crisis.. The Fed's emergency rate cut on Tuesday failed to boost U.S. stocks, as the Dow Jones Industrial Average tanked after the surprise announcement to close 2.9% lower.. All three major U.S. indexes were set to open higher on Wednesday after former Vice President Joe Biden surged to a number of victories on Super Tuesday to put himself back in the race for the Democratic Presidential nomination.. The Fed's intervention has sparked hopes that governments and central banks in Europe may also implement measures to support businesses and the economy amid the coronavirus outbreak.. The World Bank also stepped in overnight to promise $12 billion to support countries dealing with the health and economic impacts of the virus.. Attention has now turned to the European Central Bank and the Bank of England.. Luc Filip, head of discretionary portfolio management at SYZ Private Banking, said: "There was clearly a notion of urgency [from the Fed] and it