FTSE 100 rises to end week higher amid hopes of US rate cut

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The FTSE 100 nudged upwards on Friday – driven higher by several utilities, housing and mining stocks.

The blue-chip index rose 30 points to end the week on 8,253, a 0.4% uplift.

Investors were buoyed this week by stronger-than-expected gross domestic product news in May on Thursday.

Early in the day, they had another boost amid growing hopes of a September interest rate cut by the Federal Reserve after US inflation data fell.

Danni Hewson, head of financial analysis at AJ Bell, said: “It’s hard to believe it has only been a week since Labour’s landslide election victory changed the UK’s political make-up.

“There’s been no shortage of big announcements from Number 11 but…

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