"It's still a bit of an uncertain market place, and the FTSE is reflecting this, being up one day and down the next"
- Paul Mumford, Portfolio Manager at Cavendish Asset Management
Following the Chinese GDP data that reflected a downturn in economic growth, resource stocks lifted the UK stock market on Friday.
The FTSE 100 rose 1% to 5,666.13, closing the week with a 0.1% increase. The broader FTSE-All Share Index also advanced by 1% on Friday.
"It's still a bit of an uncertain market place, and the FTSE is reflecting this, being up one day and down the next," said Paul Mumford, Portfolio Manager at Cavendish Asset Management.
China's GDP increased 7.6% in Q2 from a year earlier, said the National Bureau of Statistics.
Investors "had positioned themselves for worse, so in that regard, 7.6 per cent is certainly a win," said Chris Weston, Institutional Trader at IG Markets. "We feel the numbers are probably the best-case scenario for risk assets, as the print was just weak enough to keep the markets' anticipation of aggressive easing alive."
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