{"id":11641,"date":"2021-07-09T09:29:34","date_gmt":"2021-07-09T09:29:34","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/09\/ftse-100-inches-higher-as-pound-weakens\/"},"modified":"2021-07-09T09:29:34","modified_gmt":"2021-07-09T09:29:34","slug":"ftse-100-inches-higher-as-pound-weakens","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/09\/ftse-100-inches-higher-as-pound-weakens\/","title":{"rendered":"FTSE 100 Inches Higher As Pound Weakens"},"content":{"rendered":"
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U.K. stocks rebounded on Friday, with a weaker pound and gains in the mining sector offering some support. <\/p>\n

Travel stocks also gained ground after the government said that from July 19, fully vaccinated U.K. residents and children will no longer have to quarantine on their return to England.<\/p>\n

Investors shrugged off data showing the U.K. economy<\/span> expanded at a slower pace in May despite an easing of COVID-19-related restrictions.<\/p>\n

Gross domestic product grew 0.8 percent month-on-month in May, but slower than the revised 2 percent growth posted in April and the economists’ forecast of +1.5 percent. Nonetheless, GDP rose for the fourth straight month.<\/p>\n

The benchmark FTSE 100 jumped 64 points, or 0.9 percent, to 7,095 after ending 1.7 percent lower the previous day. <\/p>\n

Miners rebounded, with Anglo American, Antofagasta and Glencore all rising more than 2 percent. <\/p>\n

Travel-related stocks such as easyJet, Ryanair and British Airways-owner IAG were up around 3 percent.<\/p>\n

Aircraft and car parts supplier Senior advanced 1.2 percent after raising its guidance for the financial year. <\/p>\n

Victrex, a supplier of high performance polymer solutions, gained 1.4 percent after its third-quarter Group revenue climbed 37 percent from last year. <\/p>\n

Luxury goods group Burberry jumped 3.4 percent after Goldman Sachs upgraded the stock to “buy.” <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n