UK's FTSE 100 opens higher on boost from energy, defensive stocks

hl.co.uk:

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Newsroom

Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.

HL Podcast

HL Insight

UK's FTSE 100 opened higher on Friday as energy firms gained on rise in crude prices, while defensive stocks advanced after an surprise upside in domestic retail sales cemented bets of more interest rate hikes by the Bank of England.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

21 Jul 2023

The pound perked up after official data showed British retail sales rose more than expected in June.

Defensive sectors such as utilities and personal care, drug and grocery stores gained 0.6% and 0.4%, respectively.

Heavyweight energy stocks added 0.5% as crude prices rose.

The exporter-heavy FTSE 100 is on track to post weekly gains of nearly 3%, as risk appetite flourished this week after data showed domestic inflation easing more than anticipated.

Hargreaves Lansdown rose 2.5% after Jefferies upgraded the investment platform's rating to «buy» from «underperform».

This article was written by Reuters and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to legal@industrydive.com.

Available online and via all major streaming apps.

Special guests give the