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FTSE 100 climbs at the end of choppy week

Published 28/08/2020, 08:17
© Reuters.
UK100
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GRG
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FTMC
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* FTSE 100 up 0.2%, FTSE 250 adds 0.1%

Aug 28 (Reuters) - London's FTSE 100 rose on Friday as
bargain hunters stepped into the market following losses earlier
in the week, while baker Greggs slipped on a report that a
coronavirus outbreak had forced it to close its depot in Leeds.
The blue-chip FTSE 100 .FTSE was up 0.2% and on course to
end the week with modest gains. Glum quarterly earnings reports
and weak economic data had pulled the index down about 1.7% in
the past three sessions as investors worried about a choppy
post-pandemic economic recovery.
With Wall Street getting a boost overnight from the U.S.
Federal Reserve's new strategy to adopt an average inflation
target, all eyes in the UK will be on Bank of England chief
Andrew Bailey's speech at the virtual Jackson Hole symposium on
Friday.
Earlier in the Asian day, Japanese financial markets fell
after news that Prime Minister Shinzo Abe will resign for health
reasons. MKTS/GLOB
The UK's mid-cap FTSE 250 .FTMC rose 0.1%, with financial,
resources and industrial stocks among the early gainers.
Greggs GRG.L shed 0.8% as the report said its distribution
centre had been temporarily closed for a deep clean after some
staff tested positive for COVID-19.

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