UK Equity Indexes Rise Amid Positive US Economic Data

Britain's equity indexes saw gains as global markets reacted positively to data alleviating US recession fears. The FTSE 100 and FTSE 250 both rose for a fifth session. UK's economy grew 0.6% in Q2 2024. The pound strengthened, while non-life insurers led sectoral gains. AstraZeneca saw a rise on FDA priority review news.

Britain's equity indexes climbed on Thursday as global markets welcomed data dispelling fears of a U.S. recession. The UK economy grew as expected, bolstering investor sentiment.

The FTSE 100 rose 0.8% and FTSE 250 added 0.7%, continuing a five-session uptrend. The UK economy expanded by 0.6% in Q2 2024, following a swift 0.7% recovery in the prior quarter after a mild recession in late 2023.

The pound appreciated 0.3% against the U.S. dollar. Non-life insurers led sector gains with Admiral Group notably up 6.5% after strong profit reports. AstraZeneca also saw a 2% rise after the FDA granted priority review for its cancer drug Imfinzi.