The FTSE 100 rose by 1.6% on Friday, benefiting from an increased risk appetite as traders welcomed the mixed US payrolls report and the clearance of the US debt limit deal. The US economy added 339K jobs in May, well above market estimates of 190K while the unemployment rate rose by 0.3 percentage points to 3.7% and hourly wage growth slowed. Shares of Dechra Pharmaceuticals surged by nearly 8% after the veterinary drugmaker agreed to be acquired by investment firm EQT for an equity value of 4.46 billion pounds ($5.62 billion). However, the FTSE 100 experienced a weekly decline of 0.3%, extending a 1.7% drop from the previous week, as concerns arose regarding potential monetary tightening by the Bank of England, which could impact corporate earnings.
Historically, the United Kingdom Stock Market Index (GB100) reached an all time high of 8047.06 in February of 2023. United Kingdom Stock Market Index (GB100) - data, forecasts, historical chart - was last updated on June of 2023.
The United Kingdom Stock Market Index (GB100) is expected to trade at 7432.31 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6930.99 in 12 months time.