UK stocks rise after upbeat retail sales data, Rio Tinto shines

Reuters

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      FTSE 100 up 0.5%, FTSE 250 adds 0.1%
    

  
       May 26 (Reuters) - UK stocks advanced on Friday after
data showed retail sales unexpectedly rose in April,
highlighting resilience in consumer spending despite elevated
inflation, while Rio Tinto logged its best day in over a month
on a brokerage upgrade.
    Retail sales volumes rose 0.5% in April after a 1.2% fall in
March. The sales volumes over the three months to April grew by
the most since mid-2021, as per an official report. 
    The broader retail sector  .FTNMX404010  added 0.2%, led by
shares of ASOS Plc  ASOS.L .  
    The pound  GBP=D3  added 0.1% after the data.
    The blue-chip FTSE 100  .FTSE  rose 0.5%, but was set to
record its worst week in over a month as an unexpected rise in
domestic inflation and U.S. debt ceiling uncertainties strained
sentiment.
    Rio Tinto  RIO.L  jumped 3.6% after brokerage Morgan Stanley
turned bullish on the miner.
    AstraZeneca Plc  AZN.L  added 0.9% after the drugmaker said
a combination of its cancer drugs when added to chemotherapy
showed positive results in a late-stage trial in patients with
advanced or recurrent endometrial cancer.
    The FTSE 250  .FTMC  also added 0.1% by 7:10 GMT.

 (Reporting by Johann M Cherian in Bengaluru; Editing by
Shailesh Kuber)
 ((johann.mcherian@thomsonreuters.com;))
 
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