FX.co ★ FTSE 100 Rebounds on Friday

On Friday, the FTSE 100 experienced a slight uptick after recovering from a 0.5% decline the day before, buoyed by robust economic indicators and positive consumer sentiment. Notably, UK retail sales, excluding fuel, increased by 1.3% in April compared to the previous month and showed a 5.3% rise year-on-year. When including fuel, sales similarly rose by 1.2% monthly and 5.0% annually, surpassing market expectations. Additionally, the latest GfK survey indicated an uplift in consumer confidence for May. Further contributing to the optimistic outlook, Ofgem, the UK energy regulator, announced a 7% reduction in the energy price cap starting July. This decision comes as a relief to both households and businesses following three consecutive increases. In the corporate sphere, Games Workshop shares dipped nearly 4%, despite projecting higher annual revenue and profit. On a positive note, GSK received US approval for its new treatment targeting chronic obstructive pulmonary disease, while AJ Bell saw its stock rise after reporting that it anticipates both revenue and profit to surpass earlier forecasts.