{"id":39494,"date":"2023-10-12T09:16:13","date_gmt":"2023-10-12T09:16:13","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/10\/12\/ftse-100-rallies-as-economy-returns-to-growth\/"},"modified":"2023-10-12T09:16:13","modified_gmt":"2023-10-12T09:16:13","slug":"ftse-100-rallies-as-economy-returns-to-growth","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/10\/12\/ftse-100-rallies-as-economy-returns-to-growth\/","title":{"rendered":"FTSE 100 Rallies As Economy Returns To Growth"},"content":{"rendered":"

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U.K. stocks rose sharply on Thursday after data showed the U.K. economy<\/span> recovered in August driven by the service sector rebound.<\/p>\n

Gross domestic product grew 0.2 percent in August from July, when the economy contracted by revised 0.6 percent, the Office for National Statistics reported – matching expectations. <\/p>\n

On a yearly basis, monthly GDP advanced 0.5 percent, in line with estimate. This was faster than the 0.3 percent growth registered in July.<\/p>\n

Meanwhile, industrial production fell 0.7 percent, reversing a 1.1 percent drop in July. Likewise, manufacturing was down 0.8 percent, following July’s 1.2 percent decline.<\/p>\n

The benchmark FTSE 100 was up 65 points, or 0.9 percent, at 7,685 after closing 0.1 percent lower on Wednesday.<\/p>\n

Restaurant Group shares soared 37 percent. The company will go private after agreeing a bid from Apollo Global Management.<\/p>\n

EasyJet tumbled 4.5 percent despite the budget airline posting record fourth-quarter profit. <\/p>\n

ITV rose about 1 percent after confirming it had received a case initiation from the CMA over possible breaches of antitrust laws. <\/p>\n<\/p>\n<\/div>\n