FX.co ★ FTSE 100 Rises As Q1 GDP Grows Faster Than Expected

U.K. stocks experienced an upward trend on Friday as investors responded to stronger-than-expected GDP figures from the U.K. and anticipated a significant U.S. inflation report later in the day for insights into potential interest rate cuts.

Recent data from the Office for National Statistics indicated that the British economy rebounded more robustly than initially estimated in the first quarter.

Gross domestic product (GDP) expanded by 0.7 percent from the previous quarter, which had seen a contraction of 0.3 percent. This revised figure surpasses the initial growth estimate of 0.6 percent.

This improvement means the U.K. has emerged from a technical recession, marked by GDP contractions in the prior two quarters.

On an annual basis, GDP grew by 0.3 percent in the first quarter, revised upwards from the initial estimate of a 0.2 percent increase.

The benchmark FTSE 100 index rose by 33 points, or 0.4 percent, to reach 8,213, following a 0.6 percent decline on Thursday.

In corporate developments, JD Sports Fashion saw a 4 percent decline in share value after Nike, the global leader in sportswear by revenue, issued a warning about an expected drop in sales this year.