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Mining, Healthcare Stocks Boost FTSE 100 as Economy Strengthens
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(Reuters) - London's FTSE 100 index edged higher on Friday, helped by gains in mining and healthcare stocks, while a record annual jump in domestic economic output in April strengthened views of a stronger recovery from the pandemic-driven disruption last year.
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The blue-chip index rose 0.3%, with precious metal miners and base metal miners jumping 2% and 1.4%, respectively.
Pharmaceutical stocks also rose, with AstraZeneca leading the gains.
The domestically focused mid-cap FTSE 250 index advanced 0.3%.
The UK economy in April was a record 27.6% larger than 12 months before, official data showed, an increase that reflects recent reopening and the scale of disruption to everyday life early in the COVID-19 pandemic. In April alone, output rose by 2.3%, marking the fastest growth since July.
Among other stocks, Sanne Group jumped 11.5% as the asset management services provider said it was in talks with Cinven after the private-equity firm made a sweetened offer of 875 pence per share to buy the company.
For a look at all of today’s economic events, check out our economic calendar.
(Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V)
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