FX.co ★ FTSE 100 Rises Led by Astra & BP

The FTSE 100 rose 0.5% on Friday, outperforming most global markets during a tech-led selloff, as strong earnings from heavyweights AstraZeneca and BP underpinned the index. AstraZeneca advanced about 3% after reporting third-quarter core operating profit and earnings per share ahead of forecasts, supported by double-digit revenue growth in its oncology, respiratory and immunology, and rare disease divisions. The company also reaffirmed its full-year guidance, while peer GSK added roughly 2%.

BP climbed more than 1% after reporting profits of $8.46 billion, comfortably beating analyst expectations on the back of robust refining margins; Shell gained around 0.8%. Consumer staples Unilever and BAT also rose more than 1.5%.

Banks were among the session’s main laggards. NatWest fell more than 3% despite delivering operating profit ahead of expectations and maintaining its guidance. Over the week, the FTSE 100 rose about 0.7%, recouping part of the prior week’s loss of more than 1%.