U.K. stocks rose on Friday, with a weaker pound and optimism over an economic recovery offering some support. The pound struggled after GDP data for the second quarter fell short of the Bank of England’s forecast of 5 percent growth.
The benchmark FTSE 100 rose 28 points, or 0.4 percent, to 7,221, heading for a fourth straight weekly gain.
Defense contractor Babcock jumped 6.6 percent after it agreed to sell its consultancy unit Frazer-Nash for 293 million pounds ($404.5 million) in cash.
Diversified miner BHP Group gained about 1 percent amid speculation it may announce a decision on exiting fossil fuels next week.
Technology company Avon Protection plunged 24 percent after cutting its revenue guidance for the next two years.
BP Plc and Royal Dutch Shell were moving lower as oil prices dropped on fuel demand concerns.
FTSE 100 Rises Amid Recovery Optimism
2021-08-13 09:25:38
