FTSE 100 edges higher bolstered by positive economic data, Sensex drops on mixed global cues

Tech stocks help US equities end positive on Friday

London stocks end the week with highest gains in over a month (PA Wire)

London’s FTSE 100 edged higher on Friday, ending the trading week with the best gains in over a month, as positive economic data helped lift sentiments.

The blue-chip FTSE 100 closed 46 points or 0.6 per cent higher at 7,134, while the domestically focused FTSE 250 gained 125 points or 0.5 per cent.

Official data showed Britain’s recovery from the Covid-19 pandemic sped up in April as lockdown measures eased, and output was a record 27.6% higher than a year earlier when the virus was rampant.

US equities ended higher on Friday bolstered by gains in the financial and tech stocks. The Dow Jones Industrial Average rose 0.04 per cent, or 13 points, to 34,479, while the S&P 500 index added 0.19 per cent, or 8 points to 4,247. The Nasdaq Composite index closed 0.35 per cent, or 49 points, higher at 14,069.

The weekly performance of both S&P 500 and Nasdaq was modest. However, Dow Jones recorded slight losses last trading week.

Asian markets traded mixed Monday morning, however, several major markets remain closed for holidays. In Japan, Nikkei 225 rose 0.6 per cent, while South Korea’s Kospi dipped marginally. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6 per cent higher. Markets in Australia, mainland China and Hong Kong are closed on Monday for holidays.

Indian indices also opened lower with mixed cues from global peers. Sensex dipped 230 points or 0.4 per cent soon after opening, however, it is recovering in the later minutes. Nifty also trades 0.3 per cent down.

Additional reporting by agencies