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Market Update: FTSE 100 Posts First Weekly Gain in Four Weeks
The FTSE 100 bounced back above the 7,000 level on Friday to end a roller-coaster week on a high note, helped by technology stocks, on prospects of a solid global economic recovery and continued support from central banks. On the data front, British retail sales rose 0.5% in June, slightly above market expectations, and were up by 9.5% compared with their pre-coronavirus pandemic February 2020 levels. Consumer morale improved in July to its strongest level in 17 months, while a PMI survey signalled a sharp slowdown in UK business activity growth. [/s2If]
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