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 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
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