StockMarketWire.com - UK stocks bounced on Friday, recouping some of Thursday's horrendous losses, after central banks moved to stabilize markets with big liquidity injections.

At 0821, the benchmark FTSE 100 index was up 176.91 points, or 3.4%, at 5.414.39.

The index had closed more than 10% lower on Thursday after the Trump administration banned Europeans from traveling to the US.

In corporate news, telecom giant BT gained 4.0% to 111.62p, even as it confirmed that chief executive Philip Jansen was self-isolating after being infected with the coronavirus on Wednesday afternoon.

Jansen said his symptoms 'seem relatively mild' and that he would continue to lead BT, though working remotely.

Oil and gas producer Premier Oil jumped 24% to 15.62p as it moved to reassure the market that it could weather the storm, partly due to having hedged some of its oil-price exposure.

Premier Oil said it also was planning to cut capital expenditure by at least $100m to conserve cash.

Over-50's services group Saga dropped 1.1% to 14.84p after it warned on profits, having decided to suspend all of its cruises until the beginning of May.

Hospital owner Spire Healthcare rose 6.6% to 89.95p on announcing that it had offered support to Britain's National Health Service to assist with its response to the coronavirus outbreak.

The exact nature, extent and timing of the support had yet to be determined, Spire said.

Cancer and fibrosis focused Redx Pharma shares almost tripled in value to 14.85p after the company received a takeover approach from Yesod Bio-Sciences.

Graphene-based products maker Directa Plus firmed 8.8% to 66.9p, having forecast revenues to treble in the first quarter.

Cold storage and logistics company Norish advanced 2.4% to 86p as it posted a 20% rise in annual profit after bolstering its margins.

In a sign of how the coronavirus could affect the corporate calendar, video advertising technology company Tremor International said it had cancelled a capital markets event due to be held on 2 April as a precaution.

Tremor shares fell 0.7% to 124.1p.

Smaller oil companies also moved to clam shareholders, though with mixed results.

Tower Resources fell 1.6% to 0.31, even as it insisted its Thali prospect offshore Cameroon remained an 'attractive' asset despite the recent rout in oil prices.

Oil and gas project investor Reabold Resources gained 9.7% to 0.37p, on stating that it and its portfolio companies were 'financially robust'and could take advantage of acquisition opportunities.

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