FTSE 100 flat as UK growth beats expectations


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.