Staff of Reuters 2 minutes Read (Click LIVE/ or type LIVE/ in a news window for a Reuters live blog on U.S., UK, and European financial markets.) * The FTSE 100 is up 0.5 percent, while the FTSE 250 is up 0.3 percent. 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 index 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. The domestic mid-cap index increased by 0.3 percent. Vectura Group soared 12.2 percent after cigarette producer Philip Morris said it will buy the pharmaceutical company for $1.44 billion in a deal valued at 1.05 billion pounds. Senior, a British aircraft and auto components supplier, rose 0.9 percent after forecasting performance for 2021 to be somewhat above of earlier estimates, boosted by signs of recovery in the aerospace segment. (Bengaluru-based reporter Shashank Nayar contributed to this report.)/n
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