London stocks head for best week since mid-March
The blue-chip FTSE 100 rose 0.1% in early deals and the domestically oriented FTSE midcap index climbed 0.2%. Asian shares extended overnight global gains as investors took comfort from Federal Reserve minutes suggesting it could pause its rapid rate hikes later this year.
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UK shares inched higher on Friday, on course for their best weekly showing since mid-March, as strong metal prices boosted miners, while investors dialled back bets of aggressive U.S. interest rate hikes. The blue-chip FTSE 100 rose 0.1% in early deals and the domestically oriented FTSE midcap index climbed 0.2%.
Asian shares extended overnight global gains as investors took comfort from Federal Reserve minutes suggesting it could pause its rapid rate hikes later this year. UK-listed global miners such as Glencore, Rio Tinto and Antofagasta rose about 1% each as copper and iron ore prices were boosted by a weaker dollar.
Retailers such as Marks & Spencer and Next led the charge in UK equity markets on Thursday, after a new 15 billion pound ($19 billion) package of support for households struggling to meet soaring energy bills spurred hopes of more spending. Food delivery company Deliveroo slipped almost 4% after JPMorgan downgraded the stock to "neutral".
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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