RollsRoyce extends gains
BP, Shell gain on higher oil prices
International Consolidated Airlines Group down after results
FTSE 100 up 0.3, FTSE 250 adds 0.4

Feb 24 Reuters UK shares climbed higher on Friday as gains in RollsRoyce boosted aerospace stocks and higher oil prices lifted energy giants, with investors looking ahead to U.S. personal consumption data due later in the day.

The bluechip FTSE 100 gained 0.3, but was on track to post its biggest weekly decline in five weeks.

RollsRoyce extended its previous day39;s gains, rising 5.3, pushing the aerospace and defence sector up 2.0 after the jet engine maker beat profit forecasts on Thursday and raised expectations for 2023.

Energy majors Shell and BP both rose 1.4 each on higher oil prices.

British Airwaysowner IAG fell 3.9 to the bottom of the FTSE 100 following its fullyear results and saying it bought the remaining 80 of Spain39;s Globalia for 400 million euros 423.84 million.

Analysts were also waiting for the latest reading on U.S. core personal consumption expenditure, which is expected to rise 0.4 for the month of January, according to a Reuters poll.

The market will wake up to the fact that the Fed funds rate will have to stay long higher for longer instead of being calculated this year, said Janet Mui, head of market analysis at RBC Brewin Dolphin.

The FTSE 100 has had a great start to the year so far, recording multiple record highs on its journey above the 8,000 points mark as some positive…