Last checked at 
May consumer confidence -27 vs -30 last month
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Both FTSE indexes log weekly gains
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FTSE 100 up 0.2%, FTSE 250 down 0.1%
May 19 (Reuters) -
UK's FTSE 100 gained on Friday as data showed domestic consumer confidence hit a 15-month high and progress on U.S. debt ceiling negotiations buoyed sentiment.
The FTSE 100 closed up 0.2%, just before news broke that U.S. debt talks had been paused. The blue-chip index marginally rose for the week, snapping a three-week losing streak.
The FTSE 250 midcap index fell 0.1%, though it gained 0.5% for the week.
A survey showed May domestic consumer confidence rose for the fourth month in a row as households took a more positive view of the economy and their finances.
"UK consumer confidence continues to be impressively resilient, good news for retail, travel and hospitality stocks with the reading improving for the fourth month in a row," said AJ Bell's investment director Russ Mould.
"If inflation starts to retreat from double-digit highs that improvement may become more material."
Oil heavyweights Shell and BP gained 0.7% and 0.2% respectively, pushing the broader energy sector up 0.5% as oil prices advanced over the fading risk of U.S. debt default.
News of "steady progress" in talks between Democratic negotiators and Republicans aimed at avoiding a U.S. default had buoyed market sentiment in recent days, with investors hoping that a resolution could be reached this weekend.
However, shortly after London markets closed, the lead Republican negotiator said the talks have been
paused
.
UK equities have traded within tight limits this week as investors also digested a slew of mixed corporate earnings domestically along with news of the debt deal talks.
JD Sports Fashion slipped 7.8% after U.S. retailer Foot Locker Inc trimmed its annual sales and profit forecast.
Burberry lost 4.1% after two brokerages flagged outlook concerns. The luxury fashion brand had reported stronger-than-expected fourth-quarter sales on Thursday, but showed weakness in the United States.
C&C Group tumbled 14.8% after the drinks maker forecasted a one-off impact on profits in fiscal 2024 as one of the units had faced delays to integrate a business management software. (Reporting by Johann M Cherian and Shashwat Chauhan in Bengaluru; Editing by Savio D'Souza, Sherry Jacob-Phillips and Deepa Babington)
