The FTSE 100 was heading into the weekend on a high after global equities rallied on hopes major economies were nearing the end of their hiking cycles.
Instalments by the Federal Reserve and ECB this week suggest that although there are more rate hikes to come, they are now largely priced into markets.
US and Asian stocks rallied overnight, and European stocks took hold of their tailcoats on Friday.
“A decent showing on Wall Street last night has helped to put investors in a good mood, with the key markets across Europe and Asia ending the trading week on a high,” said Russ Mould, investment director at AJ Bell.
The FTSE 100 was 0.2% higher at the time of writing on Friday.
FTSE 100 movers
Ocado continued a storming rally on Friday, gaining over 3% as the FTSE 100’s foremost performer. Ocado has gained 15% over the last five trading sessions.
Fraser Group was up 2.7% as the retailing group increased their stake in AO World to 21%. Fraser Group is on a spending spree, targeting online retailers AO World and ASOS. Fraser Group increased their ASOS stake to 10.6% yesterday.
Fraser Group took an initial 19% stake in AO World last week, saying the deal was the “culmination of productive talks over the last two years about establishing a strategic partnership”.
Miners were among the top fallers as investors booked profits after a strong rally in commodities companies ignited by Chinese stimulus. Antofagasta was down 1.6%, and Anglo-American dipped 2%.