FTSE 100 gets end-of-the-week boost from strong GDP; JD Sports sags - Market Report

Proactive - Interviews for investors

The FTSE 100 looked set to end the week on a high note after first-quarter GDP growth came in higher than expected. In opening trades, the blue-chip index was up 54 points, or two-thirds of a percent at 8,234. Figures from the Office for National Statistics showed GDP rose 0.7% in the first three months of the year, stronger than the 0.6% first estimate and up from a 0.3% decline at the end of last year. On a year-on-year basis, GDP was up 0.3%, also beating the consensus forecast of 0.2%. Most of the top 40 blue chips are in the green, with Intertek and 3i Group top of the list, both up 1.8%. NatWest rose 1.6%, Rolls-Royce gained 1.3% and Shell is up 1.2%. Heading in the other direction is FTSE 100-listed sportswear retailer JD Sports, which fell 6% following earnings from Nike overnight. The US trainer giant pointed to a negative revision for its new year outlook as it also reported lower-than-expected sales for its fiscal fourth quarter. Elsewhere, Keywords Studios said investment firm EQT Group has tabled an increased 2,450p per share offer, valuing it at £2 billion, which the board is minded to recommend. #proactiveinvestors #marketreport #ftse #ftse100 #footsie #gdp #ons #jdsports #keywordstudios #eqtgroup #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews