Beazley jumps on Q1 netpremium surge
THG walks away from PE take over, shares fall
FTSE 100 set for longest streak of weekly losses in seven months
UK Q1 GDP up 0.1, matching forecasts
FTSE 100 up 0.4, FTSE 250 sheds 0.1

May 12 Reuters The FTSE 100 index rose on Friday as investors were relieved after data showed the UK economy grew slightly in the first three months of this year, with insurer Beazley topping gains following upbeat quarterly results.

An Office for National Statistics report showed the UK economy grew 0.1 expected in the first quarter of 2023, despite a 0.3 contraction in March on a monthly basis.

The pound added 0.2 against the U.S. dollar.

The fact that the UK managed to eke out a growth is still woeful with many issues still impacting the economy, said Danni Hewson, head of financial analysis at AJ Bell.

If inflation does not fall, and if industrial action continues on, there is still a possibility that the economy could see some kind of a recession.

The bluechip FTSE 100 rose 0.4, boosted by a 0.4 gain in banks, a day after the central bank lifted borrowing costs. The midcap FTSE 250 added 0.1 by 0826 GMT.

The indexes are, however, set to end the week lower, with the FTSE 100 set for a third straight weekly drop, its longest streak of weekly losses in seven months.

Global growth concerns, particularly out of China and the U.S., have recently weighed on internationallyfocussed firms on the FTSE 100.

Beazley Plc rose 4.8 on reporting a…