FTSE 100 Rises Led By Miners

U.K. stocks rose on Friday, with miners leading the surge on hopes of a fast economic recovery. Takeover news and Vodafone's strong earnings also offered some support.

The benchmark FTSE 100 rose 47 points, or 0.7 percent, to 7,015 after declining 0.4 percent in the previous session.

Miners Anglo American, Antofagasta and Glencore rose between 1.5 percent and 1.9 percent.

Vodafone gained nearly 2 percent after the telecom major reported higher revenues in its first quarter.

Security firm Ultra Electronics Holdings soared as much as 33 percent after receiving a takeover bid from aerospace manufacturer Cobham.

In economic releases, U.K. consumer sentiment strengthened more-than-expected in July to reach ahead of its March 2020 pre-lockdown level, survey data from the market research group GfK showed.

The consumer sentiment index rose to -7 in July from -9 in the previous month. The expected reading was -8.

U.K. retail sales recovered in June as the start of the Euro 2020 football championship boosted food store sales, separate data from the Office for National Statistics revealed.

Retail sales grew 0.5 percent month-on-month in June, reversing a 1.3 percent fall in May. Sales were forecast to grow 0.4 percent.

The IHS Markit/CIPS flash composite PMI dropped to 57.7 in July from 62.2 in June, its lowest since March and a sharper fall than most economists had expected.

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