10.05.2024 11:25:37 - dpa-AFX: FTSE 100 Climbs After Strong GDP Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose notably on Friday and
the British pound strengthened against other major currencies after data showed
the U.K. economy exited a technical recession in the first quarter, led by a
rebound in the services output and household spending.

Data from the Office for National Statistics showed that the U.K. gross domestic
product grew 0.6 percent from the fourth quarter, when the economy shrank 0.3
percent. Output had declined 0.1 percent in the third quarter last year.

Economists had expected the first quarter growth to come in at 0.4 percent.
GDP rose 0.2 percent year-on-year in the first quarter, beating expectations for
stagnation.

The benchmark FTSE 100 was up 61 points, or 0.7 percent, at 8,442 after edging
up 0.3 percent on Thursday.

Higher metal and oil prices boosted miners and energy stocks. Anglo American,
Antofagasta and Glencore all rose about 2 percent while BP Plc gained 1.2
percent and Shell added 1 percent.

CRH, a provider of building materials solutions, soared 4 percent after
reaffirming its full-year guidance.

British Airways owner IAG rose 0.6 percent after Q1 profit beat estimates.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CAC 40 969400 Paris 8.094,97 24.05.24 18:05:02 -7,36 -0,09% - - 8.053,79 8.094,97
FTSE 100 969378 Financial Times SE 8.317,59 24.05.24 17:50:00 -21,64 -0,26% - - 8.339,23 -
DAX ® 846900 Xetra 18.693,37 24.05.24 17:50:00 +2,05 +0,01% - - 18.687,60 18.693,37
E-STOXX 50 ® 965814 STOXX Ltd. 5.035,41 24.05.24 17:50:00 -2,19 -0,04% 0,000 - 5.027,94 5.035,41

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