Beazley jumps after outlook raise
UK retail sales slip in June
Consumer mood stuck at record low GfK survey
Pound down 0.5 against the dollar
FTSE 100 up 0.3, FTSE 250 adds 0.2

July 22 Reuters UK39;s exportsheavy FTSE 100 rose on Friday as the sterling weakened and oil stocks jumped, while insurer Beazley topped the midcap index following a strong annual forecast.

The FTSE 100 advanced 0.3 in volatile trade and was on track to end the week 1.8 higher, its best weekly performance in a month.

Oil majors BP and Shell climbed 0.8 and 0.5, respectively, tracking a recovery in crude prices.

A weakness in sterling supported the FTSE 100 index, with Unilever, Reckitt Benckiser and British American Tobacco among the biggest boosts.

Banks fell 0.9 on fears of a global economic slowdown, a day after Europe39;s central bank raised interest rates by a morethanexpected 50 basis points in its first hike in 11 years.

European banks, facing a potential economic storm and a rise in borrowing costs for the first time in more than a decade, are set to show their weak spots when they update investors on how their business has fared this year.

Retail sales edged down in June as drivers cut back on fuel amid record high prices. While shopping trend remained weak as households struggle with surging inflation, the drop was less than expected, data showed. 

The underlying trend is that the surge in prices is weighing on sales volumes … a recession is just around the corner, said…