FTSE 100 Rises On Earnings; NatWest Rallies 7%

U.K. stocks traded higher on Friday after strong U.S. GDP data boosted hopes of a soft landing for the world’s largest economy.

The benchmark FTSE 100 was up 59 points, or 0.7 percent, at 8,245 after gaining 0.4 percent in the previous session.

Lender NatWest jumped 7 percent after lifting its full-year revenue forecast.

AstraZeneca rose 1.2 percent. Imfinzi, or durvalumab, was recognized by the FDA’s oncologic drugs advisory committee for its efficacy in treating resectable non-small cell lung cancer, based on phase three trial results.

Defense and aerospace group Babcock International surged 5.3 percent after reporting strong FY24 results.

Reckitt Benckiser climbed 2.2 percent. The consumer goods major announced that it has initiated the first tranche of its previously announced 1 billion pounds share buyback program, which will return up to 250 million pounds of capital to shareholders.

Warehouse developer SEGRO fell 2.7 percent after reporting a fall in overall adjusted net asset value (NAV) per share, a key measure gauging property valuation.