UK stocks advanced on Friday after data showed retail sales unexpectedly rose in April, highlighting resilience in consumer spending despite elevated inflation, while Rio Tinto logged its best day in over a month on a brokerage upgrade.
Retail sales volumes rose 0.5% in April after a 1.2% fall in March.
The sales volumes over the three months to April grew by the most since mid-2021, as per an official report.
Financials lift UK’s FTSE 100; U.S. debt ceiling negotiations eyed
The broader retail sector added 0.2%, led by shares of ASOS Plc.
The pound added 0.1% after the data.
The blue-chip FTSE 100 rose 0.5%, but was set to record its worst week in over a month as an unexpected rise in domestic inflation and US debt ceiling uncertainties strained sentiment. Rio Tinto jumped 3.6% after brokerage Morgan Stanley turned bullish on the miner.
AstraZeneca Plc added 0.9% after the drugmaker said a combination of its cancer drugs when added to chemotherapy showed positive results in a late-stage trial in patients with advanced or recurrent endometrial cancer.
The FTSE 250 also added 0.1% by 7:10 GMT.
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