UK stocks rise after upbeat retail sales data, Rio Tinto shines

UK stocks advanced on Friday after data showed retail sales unexpectedly rose in April, highlighting resilience in consumer spending despite elevated inflation, while Rio Tinto logged its best day in over a month on a brokerage upgrade. Retail sales volumes rose 0.5% in April after a 1.2% fall in March.

UK stocks advanced on Friday after data showed retail sales unexpectedly rose in April, highlighting resilience in consumer spending despite elevated inflation, while Rio Tinto logged its best day in over a month on a brokerage upgrade.

Retail sales volumes rose 0.5% in April after a 1.2% fall in March. The sales volumes over the three months to April grew by the most since mid-2021, as per an official report. The broader retail sector added 0.2%, led by shares of ASOS Plc.

The pound added 0.1% after the data. The blue-chip FTSE 100 rose 0.5%, but was set to record its worst week in over a month as an unexpected rise in domestic inflation and U.S. debt ceiling uncertainties strained sentiment.

Rio Tinto jumped 3.6% after brokerage Morgan Stanley turned bullish on the miner. AstraZeneca Plc added 0.9% after the drugmaker said a combination of its cancer drugs when added to chemotherapy showed positive results in a late-stage trial in patients with advanced or recurrent endometrial cancer.

The FTSE 250 also added 0.1% by 7:10 GMT.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)