UK’s main stock indexes rose on Friday and were on track for weekly gains after a slew of economic data spurred expectations among investors that interest rates have peaked.
The blue-chip FTSE 100 rose 0.5% by 0811 GMT, while the midcap FTSE 250 index added 0.7%.
Despite Thursday’s selloff, the main indexes were on course for weekly gains as cooling inflation and signs of softening economic growth spurred investors to bet the Bank of England need not tighten monetary policy further.
British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy.
FTSE 100 struggles after rally as Burberry drags
Shares of the London Stock Exchange Group slipped 0.7% even as the stock exchange operator raised its mid-term growth guidance and said it would return a billion pounds ($1.24 billion) to shareholders in 2024.
AstraZeneca rose 1.1% after US health regulator approved its Truqap in combination with an older drug, providing another treatment option for patients with the most common type of breast cancer.
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