FTSE 100 rises 0.5, FTSE 250 adds 0.7
JD Sports soars to top of FTSE 100
FTSE 100 set to fare better than peers YTD

Dec 21 Reuters UK39;s FTSE 100 rose for the third straight session on Wednesday following gains in shares of energy firms and retailers, while a decline in the pound also helped the exportoriented index.

The bluechip FTSE 100 rose 0.5, while the midcap FTSE 250 added 0.7.

Sportswear firm JD Sports Fashion jumped 6.9 after its U.S. peer Nike Inc reported betterthanexpected results on Tuesday. Retailers added 1.9.

What we are seeing in the U.S. and in Europe is that consumers are not yet backing down, though probably a recession is expected and inflation is still high, said Roberto Rossignoli, portfolio manager at Moneyfarm.

Sterling slipped against the dollar and euro as British public borrowing hit a November record, underscoring the challenges for the UK economy.

As the UK economy heads towards a recession, the public purse could suffer a slowdown in tax revenue as businesses and consumers decelerate, which could result in higher public sector borrowing, said Victoria Scholar, head of investment at interactive investor.

Energy stocks were also among top gainers, adding 1 as heavyweights Shell and BP gained.

As traders enter the last few sessions of 2022, the FTSE 100 has fared better than its peers yeartodate. The regionwide Eurozone Stoxx 600 and the SP 500 are down 13 and 20, respectively, however UK39;s bluechip index is set for losses of…