U.K. stocks edged higher in cautious trade on Friday as hopes for economic recovery offset worries about higher inflation.
Market participants await an expected $6 trillion budget announcement by U.S. President Joe Biden that would boost spending on infrastructure, education, healthcare and social services.
Also on investors’ radar is the U.S. personal consumption report due later in the day.
The benchmark FTSE 100 inched up 12 points, or 0.2 percent, to 7,032 after closing 0.1 percent lower on Thursday.
Banking giant HSBC rallied 2.2 percent and Standard Chartered advanced 1.7 percent.
TUI rose half a percent. The travel agency company said that it has reached an agreement to dispose its 49 percent stake in RIU Hotels S.A. Joint Venture to Saranja S.L., an entity of the RIU-Group owned by Carmen and Luis Riu.
Market Analysis
FTSE 100 Edges Higher In Cautious Trade
2021-05-28 09:25:02
