U.K. equities climbed on Friday after retail sales surprisingly rose in April, indicating consumer spending resilience despite high inflation. In addition, Rio Tinto had its best day in over a month on a brokerage upgrade.
April retail sales rose 0.5% after a 1.2% drop in March. In addition, an official report showed the highest sales volume since mid-2021 in the three months to April.
ASOS Plc (ASOS.L) led the 0.2% retail sector gain (.FTNMX404010). Data boosted the pound by 0.1%.
As domestic inflation unexpectedly climbed and U.S. debt limit fears pinched morale, the blue-chip FTSE 100 (.FTSE) rose 0.5% but had its worst week in over a month.
Morgan Stanley upgraded Rio Tinto (RIO.L) by 3.6%.
AstraZeneca Plc (AZN.L) gained 0.9% after a late-stage trial in advanced or recurrent endometrial cancer patients showed excellent outcomes with its cancer medications combined with chemotherapy. FTSE 250 (.FTMC) gained 0.1% by 7:10 GMT.
