FTSE rose by 2.20% and closed at £5704.45 on Tuesday. Signs of the coronavirus slowing cheered investors hence the consecutive rise of the stock the past two days. However, the FTSE opened slightly on Wednesday in a general European market pullback after there were disagreements over how to finance the region's response to the Coronavirus pandemic. FTSE 100 futures contracts in the UK have fallen by 2% wiping almost the entire gains made yesterday by the Index.
BP and Royal Dutch Shell, the two oil companies that had made improvements previously in the hope of a Saudi Arabia-Russia agreement also lost on average 3% in the stock value.