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FTSE 100 Rallies On Recovery Hopes

U.K. stocks rose sharply on Monday as expectations of faster economic recovery and stimulus hopes helped investors shrug off inflation fears.

The benchmark FTSE 100 jumped 125 points, or 1.9 percent, to 6,608 after plunging as much as 2.5 percent on Friday.

Hopes of a vaccine-led economic recovery and more U.S. stimulus boosted commodity-related stocks, with miners Anglo American, Antofagasta and Glencore climbing 2-3 percent.

Oil & gas company BP Plc jumped 2.5 percent and Royal Dutch Shell added 2.1 percent.

Housebuilding stocks were rallying amid hopes that Finance Minister Rishi Sunak would unveil measures to buy homes buyers.

Persimmon surged nearly 6 percent, Taylor Wimpey advanced 5.2 percent and Barratt Developments gained 4.5 percent.

Pharmaceutical company AstraZeneca rose 1.6 percent after reportedly selling its 7.7 percent stake in Moderna Inc for more than $1 billion.

British Airways-owner IAG soared 4.7 percent on expectations of a rebound in travel demand during summer.

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