U.K. stocks inched higher on Friday after several U.S. Federal Reserve officials reiterated that the factors putting upward pressure on inflation are temporary and the Fed would maintain ultralow interest rates until stable recovery is seen.
The benchmark FTSE 100 rose 45 points, or 0.7 percent, to 7,009 after declining 0.6 percent in the previous session.
LondonMetric Property rose about 1 percent after it announced the acquisition of three urban logistics warehouses in Croydon, Dunstable and Warrington for 18.7 million pounds.
Crest Nicholson Holdings gained half a percent. The company announced an agreement to sell its 50 percent equitable interest in Longcross Studio, a film studio situated on the northern side of Longcross Garden Village and a parcel of associated land on the southern side of the site, to Longcross General Partner Ltd.
Miners fell, with Antofagasta down 2.4 percent and Rio Tinto losing 2 percent as raw materials cooled from a scorching rally.
Sanne Group shares soared 23 percent after the asset management services provider rejected a $1.90 billion buyout proposal.
Spirits maker Diageo climbed 1.1 percent after HSBC raised its price target on the stock.
Market Analysis
FTSE 100 Edges Higher As Fed Officials Hold Dovish Line
2021-05-14 09:37:21
