FTSE 100 Rallies As Retail Sales Jump

(RTTNews) - U.K. stocks opened higher on Friday, with miners and energy stocks leading the surge after China lowered the five-year loan prime rate, a benchmark reference rate for mortgages, by a record amount.

Sentiment was also underpinned after data showed U.K. retail sales expanded 1.4 percent monthly in April, reversing a revised 1.2 percent decline in March. Sales were forecast to drop 0.2 percent in April.

Investors shrugged off separate data showing that confidence among British consumers fell in May to its lowest level in at least five decades.

The benchmark FTSE 100 climbed 134 points, or 1.8 percent, to 7,437 after tumbling 1.8 percent on Thursday.

Anglo American, Glencore, Royal Dutch Shell and BP Plc rose 2-3 percent.
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