Investing.com -- British stocks closed higher on Friday as the pound slipped below $1.35, with M&G (LON:MNG) shares surging on news of a partnership with Dai-ichi Life.

The blue-chip index FTSE 100 rose 0.7% and the British pound fell by 0.2% against the dollar, staying above 1.34.

DAX index in Germany gained 0.1%, the CAC 40 in France fell 0.4%.  

BoE’s Taylor renews rate cut push

Bank of England policymaker Alan Taylor played down concerns over the recent jump in inflation, reaffirming his backing for interest rate cuts amid growing threats to economic growth stemming from trade measures introduced by U.S. President Donald Trump.

In comments published by the Financial Times on Friday, Taylor attributed April’s higher-than-expected 3.5% inflation rate primarily to temporary factors such as tax adjustments and regulated price increases, rather than underlying shifts in supply and demand.

M&G, Dai-ichi form partnership with 15% stake purchase

M&G and Japan’s Dai-ichi Life Holdings announced a strategic alliance, under which Dai-ichi intends to acquire approximately a 15% stake in M&G.

As part of the agreement, the two companies aim to generate $8 billion in new business over the next five years. Under the deal, M&G will serve as Dai-ichi’s go-to asset management partner in Europe.

The collaboration is projected to bring in $6 billion in new inflows for M&G and $2 billion for Dai-ichi.

M&G shares closed Friday’s session 5.5% higher.

RBC sees long-term buying opportunity in Hollywood Bowl 

Analysts at RBC Capital Markets view Hollywood Bowl Group PLC (LON:BOWL) as an attractive long-term investment, despite recent weather-related disruptions to its trading performance.

In a research note published Friday, the analysts argued that the stock’s decline after the company’s half-year earnings release was overly harsh and did not accurately represent its fundamental strength or future prospects.

Morgan Stanley (NYSE:MS) names BT Group a ‘Top Pick’ 

Morgan Stanley has named BT Group PLC (LON:BT) as a ‘Top Pick,’ lifting its price target to 240p, suggesting potential gains of 37%.

The telecom firm’s shares rose 3.2%. 

BP (NYSE:BP) appoints former Devon Energy CEO as non-executive director

BP PLC (LON:BP) said that David Hager, the former CEO of U.S.-based Devon Energy Corporation (NYSE:DVN), will join its board as a non-executive director starting Monday.

BoE’s Bailey calls for deeper ties with EU

Bank of England Governor Andrew Bailey on Thursday encouraged the U.K. government to work toward easing the adverse effects of Brexit by strengthening its relationship with the European Union, especially in the financial sector.

During a financial services event in Dublin, Bailey emphasized the importance of addressing non-tariff barriers, noting that reducing such obstacles could enhance market access.

He suggested that streamlining regulations would support trade and boost economic performance.

Gatwick Airport names new CEO

London’s Gatwick Airport has named Pierre-Hugues Schmit as its incoming Chief Executive Officer, taking over from Stewart Wingate.

The leadership transition is set to take effect on September 1, 2025.