Energy, banks push FTSE 100 higher

– UK’s FTSE 100 rose on Friday, pulled higher by energy and bank stocks, as the mood in the market improved after production data showed the economy performed better than expected in the second quarter.

The FTSE 100 rose 0.2% at 7:14 GMT, but is staring at a second straight quarterly decline since late 2018.

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The FTSE 250 climbed 0.7% but was on track for its first decline over three quarters since the financial crisis.

Though production grew better than expected in the second quarter it was still below the pre-pandemic peak, data showed.

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The energy sector was up 0.7%, supported by oil prices that were slightly higher on possibilities of crude output cuts by the OPEC+ when it meets on Oct. 5 that would support prices.

Banks gained by 1.4%.

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