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3 Minutes to Read (Click LIVE/ or type LIVE/ in a news window for a Reuters live blog on U.S., UK, and European financial markets.) * Travel stocks rise as the UK considers scrapping quarantine* Vectura Group soars on a buyout offer from Philip Morris* The UK economy grew at a slower pace in May than expected* The FTSE 100 is up 0.5 percent, while the FTSE 250 is up 0.4 percent. (Edits prices and adds a comment) Reuters, July 9 – The London Stock Exchange’s FTSE 100 rose on Friday as a weaker pound boosted export-oriented businesses, but it was likely to end the week lower on concerns that the economy’s rebound may be slower than projected. Glencore, Rio Tinto, Unilever, and GlaxoSmithKline led the blue-chip FTSE 100 higher by 0.5 percent. Official figures revealed that the British economy grew at a slower-than-expected 0.8 percent in May compared to April. According to a Reuters poll of experts, the gross domestic product is expected to expand by 1.5 percent month over month. “There is a growing risk that the economy will continue to print lower growth numbers in the months ahead, given the government’s overwhelming desire to get back to normal and completely relax all restrictions in the face of rapidly accelerating virus cases,” said Charles Hepworth, investment director at GAM Investments. After three straight days of falls, travel stocks rose 0.9 percent as Britain aims to eliminate quarantine for fully-vaccinated newcomers in the coming weeks. The domestic mid-cap index increased by 0.4 percent. The FTSE 100, which has risen about 9.5 percent this year due to the availability of low-cost funds, is expected to fall for the second week in a row as an increase in coronavirus infections raises concerns about the economy’s speed of recovery. Vectura Group, a pharmaceutical business, soared 12.8 percent to the top of the mid-cap index after cigarette producer Philip Morris said it would buy it for 1.05 billion pounds ($1.44 billion). Senior, a British aircraft and auto components supplier, dipped 0.7 percent after forecasting 2021 performance to be somewhat ahead of earlier projections, boosted by signs of an aerospace revival. Shashank Nayar contributed reporting from Bengaluru, and Subhranshu Sahu edited the piece./nRead More

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