FTSE indexes look to end the week on a positive note. After a deluge of economic data stoked anticipation among investors that interest rates had reached their apex, the leading stock indices in the United Kingdom saw rises on Friday and were on course for weekly gains.
The index that tracks large companies, the FTSE 100 (.FTSE), had gained 0.5% as of 8:11 GMT, while the index that tracks midsize companies, the FTSE 250 (.FTMC), had gained 0.7%.
Despite the decline on Thursday, the major indices were on track to post weekly gains as investors wagered that the Bank of England would no longer need to tighten monetary policy because inflation is falling. There are signs that economic growth is slowing.
According to official statistics released on Friday, retail sales in the United Kingdom unexpectedly decreased in October as customers with tighter budgets stayed home. This is a fresh danger flag for the economy.
Even though the operator of the London Stock Exchange boosted its mid-term growth target and announced that it will return one billion pounds ($1.24 billion) to shareholders in 2024, shares of the London Stock Exchange Group (LSEG.L) fell by 0.7%.
The share price of AstraZeneca (AZN.L.) increased by 1.1% after a health authority in the United States authorized its Truqap in conjunction with an earlier therapy. This approval provides patients who have the most prevalent kind of breast cancer with another treatment choice.