Wall Street surges back after Thursday slump amid coronavirus stimulus hopes

Rolling coverage of the latest economic and financial news

Wall Street jumps 5% at the open
1pm: FTSE 100 has surged 8%, after Thursday’s 10% crash
Coronavirus – latest news
Introduction: Markets reopen after 10% rout on Thursday
Stocks rally across Europe

2.36pm GMT

Lloyds Banking Group has been forced to shut two of its offices this week, affecting nearly 2,000 staff, after discovering the first coronavirus cases across its workforce.
Around 450 staff at its Edinburgh Citymark building are currently being asked to self-isolate, work from home or work from an alternative emergency site after a colleague was diagnosed with the virus. That site, where some of its tech and digitally-focused staff are based, remains closed.
A Lloyds spokeswoman said:

“The Edinburgh Citymark building will be temporarily closed to allow for the appropriate areas of the site to be cleaned, after a colleague based there was diagnosed with COVID-19.

“Our priority is the wellbeing of the individual, as well as the colleagues and visitors to the building. We’re closely monitoring the developing situation and continue to follow official guidelines.”

2.34pm GMT

Veteran investor Warren Buffett has cancelled his annual shareholder meeting, due to the health risks of Covid-19.

The Berkshire Hathaway annual meeting usually attracts tens of thousands of small investors to Nebraska, keen to hear from the Sage of Omaha. Buffett is always good value, dispensing wise advice about investing in good times and bad ones.