UK Stock Market Rises with AstraZeneca and Ocado Leading Gains

The UK stock market saw modest gains, driven by AstraZeneca and Ocado's good performance. The FTSE 100 and FTSE 250 indices experienced slight increases as investors anticipated key U.S. inflation data. While sectors such as personal goods and chemicals rose, oil & gas firms faced declines due to falling oil prices.

The UK stock market showed slight upward momentum on Friday, driven by pharmaceutical giant AstraZeneca and technology group Ocado. Investors keenly awaited significant U.S. inflation data expected to influence Federal Reserve interest rate decisions in the coming week.

The blue-chip FTSE 100 climbed 0.2% around midday, while the midcap FTSE 250 advanced by 0.4%, maintaining stability for the week. Despite a slowdown in Britain's housing market as per Halifax data, sectors such as home builders and investment firms experienced gains.

Sector-specific gains were notable in personal goods and specialty chemicals, with companies like Watches of Switzerland, Burberry, Elementis, and Victrex seeing rises. Conversely, oil & gas shares fell, impacted by declining oil prices, with BP and Shell leading losses. Worldwide, investors watched for U.S. personal consumption expenditure figures ahead of a potential interest rate cut by the Federal Reserve.

(With inputs from agencies.)