FTSE 100 News | The latest news from the London Stock Exchange

FTSE rises, but the economy may still be in trouble.

After US lawmakers signed a $ 2 trillion coronavirus rescue plan, reaching a high of 5,741, the FTSE 100 rose again.

However, the latest report shows that due to the forced closure of businesses across the UK during the lock-up period, the UK economy is shrinking faster than during the 2008-09 financial crisis.

The British demand "stay at home"

Prime Minister Boris Johnson said in a speech to the country: "From this evening I must give the British people a very simple instruction-you must stay At home. " The government has instructed families not to leave home unless they exercise no more than once a day, or purchase the necessary food and medicine.

To protect the U.S. economy from depression, the US Federal Reserve said it would inject $ 125 billion a day, or $ 2.5 trillion a month, to support sectors severely damaged by the COVID-19 outbreak.

The UK economy may shrink by 10%

The latest coronavirus blockade occurred at Bloomberg Economic Research Corporation, which said that due to the impact of the coronavirus pandemic, the UK economy will shrink at least 10% in the first half of this year.

The UK PMI fell below the low point during the 2008/09 recession.

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