FTSE 100 Gains As Debt Ceiling Worries Ease
(RTTNews) - U.K. stocks traded higher on Friday as comments from lawmakers sparked hopes that the U.S. will avert a potentially catastrophic debt default as early as June 1.
Also helping boost investor sentiment, survey data from the market research group GfK showed earlier today that U.K. consumer confidence continued to strengthen in May.
The consumer sentiment index posted -27 in May compared to -30 in April - marking improvement for the fourth straight month.
The benchmark FTSE 100 was up 34 points, or 0.4 percent, at 7,776 after closing 0.3 percent higher the previous day.
Titon Holding, a supplier of ventilation systems and window-and-door products, slumped 9.5 percent. The company said it expects FY2023 results below expectations.
Drinks company C&C Group plunged 17 percent after announcing a €25m hit from problems implementing a system upgrade in its Matthew Clark and Bibendum (MCB) businesses in the U.K.
Industrial technology firm Smiths Group gained about 1 percent after raising its annual organic revenue growth outlook.
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