05.09.202513:45:15UTC+00UK Stocks Advance for 3rd Day

The FTSE 100 experienced a 0.3% increase, reaching approximately 9,245 on Friday afternoon, marking its third consecutive day of gains. This rise came as investors evaluated the latest US non-farm payrolls report while also considering mixed economic data from the UK. The US jobs report, weaker than anticipated, heightened expectations that the Federal Reserve might cut interest rates later in the month. Meanwhile, UK retail sales surpassed forecasts with a 0.6% month-on-month rise in July, against predictions of a 0.2% increase. Additionally, Halifax reported a 2.2% annual rise in house prices in August, exceeding the projected 2% growth. Analysts suggest these figures reflect that the UK economy entered the third quarter with "decent momentum," although discussions around potential tax hikes in the November budget could cause households to reduce spending. In equity movements, Entain led the charge with a nearly 3% increase, closely followed by miners Rio Tinto, Anglo American, and Glencore, each gaining around 2%. Conversely, Admiral Group dropped 3.1% after Peel Hunt downgraded its status from 'reduce' to 'sell'. Overall, the FTSE 100 was on track for a 0.6% weekly increase.