UK stocks extend gains, set to end week higher on trade optimism
By 1009 GMT, the FTSE 100 (.FTSE), opens new tab advanced 0.6%, trading at its highest level in nearly two months.
The blue-chip index was also on track to rise over 1% for the week, if gains hold.
The midcap index (.FTMC), opens new tab rose 0.5% and was poised for its sixth consecutive weekly advance and seventh straight session of gains.
This week investors cheered the U.S.-China trade war truce, which significantly reduced global recession risks, alongside benign economic data and mostly positive corporate earnings results, despite some underlying caution.
On Friday, the heavyweight healthcare subindex (.FTNMX201030), opens new tab led the gains and advanced 1.5%.
On the flip side, precious metal miners (.FTNMX551030), opens new tab were down 0.6% as gold prices dropped on a stronger dollar and waning trade war concerns.
Among individual stocks, wealth manager St James's Place (SJP.L), opens new tab rose 4.2% and topped the blue-chip index after JP Morgan raised price target on the stock.
Workspace Group (WKP.L), opens new tab was the top loser among midcap stocks after the office-space provider said it expects trading profit headwind of about 7 million pounds ($9.30 million). Its shares plunged 7.9%.
Future PLC (FUTR.L), opens new tab fell 6% after the publishing firm said it will adopt a "more cautious view" for the second half of the year.
Looking ahead, market participants will monitor next week's consumer inflation data, which could influence the Bank of England's monetary policy stance.
As of Friday, traders were pricing in an 88% chance of no change to interest rates at the bank's June meeting.
($1 = 0.7530 pounds)
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