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FTSE 100 rebounds as housebuilders gain, new virus cases drop

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London's FTSE 100 rebounded in tandem with global markets on Wednesday as housebuilders advanced after HSBC upgraded its view on the stocks ahead of a first batch of results next week, while the number of new coronavirus cases in China fell.

The FTSE 100 added 0.7pc, with Berkeley, Barratt, Taylor Wimpey and Persimmon rising between 1.4pc-3pc.

Miners and oil stocks Shell and BP boosted the index.

HSBC also rebounded from a more than 6pc slide in the previous session when it reported lower profit and laid out plans for a strategic overhaul.

The mid-cap FTSE 250 gained 0.3pc, led by a 6pc jump in Hochschild Mining after it reported 2019 results and laid out targets for next year.

Reuters