FTSE 100 climbs at the end of choppy week

  • Reuters
  • Stock Market News
FTSE 100 climbs at the end of choppy week
Credit: © Reuters.

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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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