UK shares jump on strong economic growth; mid-caps track best week in a year

UK shares rose on Friday after data showed a better-than-expected economic growth in Britain, with the mid-cap index on course for its best weekly performance in more than a year. The blue-chip FTSE 100 index gained 0.8% in early trading, rising 2.5% so far in the week.

UK shares rose on Friday after data showed a better-than-expected economic growth in Britain, with the mid-cap index on course for its best weekly performance in more than a year. The blue-chip FTSE 100 index gained 0.8% in early trading, rising 2.5% so far in the week. The FTSE mid-cap index climbed 1.1% and was on track for its best week since February 2020.

Britain's economy rebounded much more than expected in January from its coronavirus-related lull in late 2021, according to data that likely adds to the case for Bank of England policymakers to raise interest rates next week. Energy stocks were up 2.1%, rising 5.8% so far this week, supported by a rally in crude oil prices following Russia's invasion of Ukraine.

Among individual stocks, Avast fell 0.7% after the cybersecurity firm joined a growing number of Western companies in suspending operations in Russia and Belarus following Moscow's invasion of Ukraine.