FX.co ★ FTSE 100 Rises, On Course For Weekly Gain

The FTSE 100 rose 0.3% on Friday, rebounding from a 0.6% decline in the previous session, as stronger UK economic data lifted sentiment. Retail sales posted their fastest growth in 20 months at the start of the year, beating forecasts and pointing to more resilient consumer demand. The UK also reported a record budget surplus, driven by higher capital gains tax revenues and lower interest payments on government debt. Bank stocks outperformed as traders scaled back expectations for imminent Bank of England rate cuts following the retail sales surprise. Healthier public finances additionally supported cyclical shares, helping to extend the market’s recovery from the earlier session’s weakness. Over the week as a whole, the FTSE 100 is up nearly 2%.