26.05.2020 FTSE 100 Daily Analysis

26.05.2020 FTSE 100 Daily Analysis

The UK's stock market came from a bank holiday on a positive note with the FTSE 100 jumping 1.9% after Prime Minister Boris Johnson said on Monday Britain will be reopening high street shops and shopping centers in June. The stock market is improving mostly because there is a general sentiment that the coronavirus crisis has passed its peak and the worst is over. The Airline stocks are also fast gaining momentum led by IAG, the owner of British Airways which has gained more than 15% while Easy Jet and Ryan Air have both gained more than 8% of their stock value. Crude oil is also helping push the Index up since the two Crude heavyweights Royal Dutch shell company and BP are its components and they are both looking at making gains especially after the third largest economy, Japan, reopens it's economy and domestic flights resume in India.