The UK’s FTSE 100 opened higher on Friday and was on track for weekly gains, buoyed by the gains in medical products maker Smith+Nephew shares on a rating upgrade, while Bank of England’s (BOE) decision to hold interest rates also lifted sentiment.
The exporter-focused FTSE 100 was up 0.3% at 8:10 GMT, on track to mark its biggest weekly gains in seven weeks.
The BoE held rates at a 15-year peak of 5.25% on Thursday and said it did not expect to cut them any time soon.
The industrial metal miners added 1.2% as copper prices rose on a weaker dollar.
UK’s FTSE 100 muted at open, BP tumbles
The medical equipment and services index climbed 1.8% to lead sectoral gains, lifted by a 2.5% rise in Smith+Nephew after broker JP Morgan raised the stock to “Overweight” from “Neutral”.
The mid-cap FTSE 250 gained 0.5% and was set for its biggest weekly gains in a year with a 5.9% jump.
Currys jumped 5.8% after the British electricals retailer agreed to sell its Greek business Kotsovolos to Public Power Corporation for an enterprise value of 175 million pounds ($214 million).
The broader reatilers index advanced 0.3% on the news.
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