UK stocks rise after positive GDP data
Consumer staples, discretionary shares drive gains
FTSE 100 to end over 1 higher in Sept qtr
FTSE 100 up 0.7, FTSE 250 jumps 1.3

Sept 29 Reuters UK39;s FTSE 100 was set to end the September quarter on a high note on Friday after data showed Britain39;s economy fared better since the start of the pandemic than previously thought.

The bluechip FTSE 100 rose 0.7 by 0837 GMT and is seen ending 1.7 higher in the September quarter, rebounding from a 1.3 fall in the previous quarter.

However, the benchmark index is on track for a second consecutive weekly decline.

Britain39;s secondquarter GDP of 2023 was 1.8 larger than in the final three months of 2019, the last full quarter before the start of the COVID19 pandemic and the growth was faster than that of Germany or France.

Domestic GDP in the second quarter was confirmed at 0.2 higher than the previous quarter in line with the economists39; forecasts polled by Reuters, as the Office of National Statistics released revisions to official data.

The sterling rose 0.3 against the U.S. dollar after the data.

UK economy is actually holding up much better and the consumer is more resilient and I think that could potentially mean another rate hike by the end of the year and then higherforlonger rates, said Anthi Tsouvali, multiasset strategist at State Street Global Markets.

Traders are betting a 36 chance for the Bank of England to raise interest rates to 5.50 by yearend after the…