U.K. stocks rose on Friday after data showed the country’s economic recovery stepped up another gear in April and GDP is on track to return to its February level before the end of the year.
The U.K. economy grew at the fastest pace since July 2020 as government restrictions affecting economic activity continued to ease in April, data from the Office for Statistics showed.
Gross domestic product rose 2.3 percent month-on-month in April, faster than the 2.1 percent expansion seen in March. The rate was forecast to improve to 2.2 percent.
Another report from the ONS showed that the visible trade gap narrowed to GBP 10.95 billion in April from GBP 11.7 billion in March and the surplus on services increased to GBP 10 billion from GBP 9.74 billion.
The benchmark FTSE 100 climbed 37 points, or half a percent, to 7,125 after closing 0.1 percent higher on Thursday.
A rise in metals prices boosted miners, with Anglo American, Antofagasta and Glencore rising around 2 percent.
Sanne Group shares jumped 11.5 percent. The specialist fund administrator confirmed that it has received a fifth unsolicited, non-binding proposal from Cinven regarding a possible all cash offer at a price of 875 pence per share.
Market Analysis
FTSE 100 Rises On GDP Data
2021-06-11 09:20:08
