FTSE 100 trades modestly higher
The FTSE 100 was trading modestly higher at 10,671 in late Friday morning dealings.
Improving consumer sentiment in the UK provided a supportive backdrop for the market at the end of the week.
Retail sales beat expectations
Both the latest GfK Consumer Confidence Index and retail sales figures came in ahead of expectations. Most notably, retail sales rose by 1.0%, significantly outperforming consensus forecasts, which had pointed to a 0.3% decline.
The stronger-than-expected data fuelled hopes that consumer spending is beginning to stabilise despite the recent rebound in energy prices.
Policy hopes support consumer stocks
Expectations of additional domestic policy support, including potential tax cuts for selected sectors of the economy, also helped improve sentiment.
As a result, consumer-focused stocks were among the session's early outperformers.
PMIs and Middle East risks remain in focus
Investors continue to monitor developments in the Middle East closely, while today's purchasing managers' indices from the UK, the euro area and the United States are expected to provide fresh insight into the global economic outlook.
Ahead of the weekend, some investors may also look to selectively add exposure, taking advantage of recent market weakness through targeted bargain hunting.
