FTSE 100 flat as UK growth beats expectations

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The FTSE 100 was flat at 7,549.77on Friday after data showing the UK economy grow faster than expected in November, taking it back above its pre-pandemic level for the first time

UK GDP grew by 0.9% in November compared with forecast growth of 0.4%.

Cinema group Cineworld was up 3.6% to 40.16p after announcing it had generated positive cash flow in the fourth quarter of the year as revenue in December was boosted by 'strong' performance of Spider-Man: No Way Home at the box office.

Electrical goods retailer Currys was down 4.1% to 107.8p after trimming its profit outlook following a a challenging Christmas period as uneven customer demand for technology products and supply disruptions held back growth.

Adjusted pre annual pre-tax profit guidance was cut to £155 million from a prior estimate of £160 million.

Luxury carmaker Aston Martin Lagonda was flat at £14.16 after announcing it had appointed Doug Lafferty as chief financial officer.

Information services company Experian was down 1.7% at £30.99 even as it upgraded its outlook on revenue after reporting third-quarter performance at the upper end of expectations.

'We now expect organic revenue growth for the full year to be in the range of 12-13%, with total revenue growth now expected in the range of 16-17%, at constant exchange rates,' the company said.

Independent premium games developer and publisher Team17 gained 3.4% to 738p after it acquired German games developer Astragon Entertainment for up to €100 million.

Shares in convenience store chain McColl's Retail dropped 6% to 10.8p after it revealed chief commercial officer Richard Crampton was stepping down with immediate effect to take up a senior role at supermarket group Sainsbury's.

Shares in fashion brand Quiz jumped 10% to 17.3p following its strong December trading update.

Clinical data specialist Sensyne Health was a major faller, dropping 57% to 32p following news that its formal sales process had yet to identify a buyer and it was running out of money fast.