FTSE 100 Up 95 Points On Hopes Of Fresh Stimulus

(RTTNews) - U.K. shares traded sharply higher for the second day running on Monday, as weak trade data out of China and sluggish Japanese GDP data boosted hopes for extra stimulus.

Asian shares snapped a five-session losing streak, China's yuan hit a 2016 high, the yen weakened against its major rivals in Asian deals and gold prices fell more than 2 percent, underscoring a shift in investors' sentiment towards riskier assets.

The benchmark FTSE 100 was up 95 points or 1.68 percent at 5,803 after rising 3.1 percent on Friday.

Commodity-related stocks traded mostly higher, with oil giant BP rising 1 percent and miner Anglo American climbing 4 percent.

BAE Systems rose 2.3 percent. The defense company is reportedly set to name Charles Woodburn as chief operating officer, putting him in line to eventually replace Chief Executive Ian King.

HSBC Holdings gained 1.3 percent after the global banking giant decided to remain headquartered in the United Kingdom.

Consumer goods giant Reckitt Benckiser Group jumped 5 percent after reporting a marginal rise in its fiscal 2015 profit before income tax.