AztraZeneca, miners push FTSE 100 higher
UK39;s August retail sales partially recovers
FTSE 100 up 0.3, FTSE 250 off 0.1
Sept 22 Reuters UK39;s FTSE 100 reversed course to edge higher on Friday boosted by gains in miners and shares of AstraZeneca, while investors fretted over indications of higherforlonger interest rates from major central banks.
The exporterheavy FTSE 100 edged up 0.3 by 0841 GMT, but was on track to end the week flat after four straight weekly gains. The midcap FTSE 250 was down 0.1, set for weekly decline.
AstraZeneca climbed 1.7 after the drug maker said its experimental precision drug slowed the progression of breast cancer in a latestage trial.
The broader pharma and biotech index gained 1.1.
Industrial metal miners rose 1.3 as prices firmed against the greenback.
Investors have been worried after the BoE and the Fed held interest rates steady this week, but signalled elevated interest rates for longer.
Goldman Sachs and J.P.Morgan expect the BoE to hold rates steady at 5.25 in November.
We have kind of hit that end point now where central banks are not all aligned or necessarily in agreement on the right course of action over the next three months or so. I think now so much just hangs on the data, said Craig Erlam, senior market analyst, OANDA.
British retail sales partially recovered in August after a rainy July washout, data showed, adding to signs that the country39;s consumers were mostly coping with the costofliving squeeze.
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