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* CRH jumps as Berenberg raises PT
* UDG Healthcare gains on sweetened takeover offer
* JD Sports top FTSE 100 gainer
* FTSE 100 up 0.4%, FTSE 250 adds 0.6%
(Updates to market close)
By Shashank Nayar
June 25 (Reuters) - Energy and mining stocks led the FTSE
100 higher on Friday on the back of higher commodity prices with
the blue-chip index ending its best week in over a month
following a boost from a dovish central bank policy in the
previous session.
The benchmark FTSE 100 index rose 0.4% to record its
best week in over a month, extending previous session gains as
the Bank of England left interest rates unchanged near record
lows.
Energy shares climbed 0.9%, while BHP Group
, Anglo American and Rio Tinto were
among the top boosts to the blue-chip index.
"The UK market is the cheapest market right now relative to
its European peers and support from the BoE will just add to the
market positive narrative," said Keith Temperton, a sales trader
at Forte Securities.
A raft of monetary and fiscal stimulus has helped the FTSE
100 rise 27% since the UK's second COVID-19 wave in October, but
it has still underperformed its European peer, which
gained 33% over the same period.
Retailers rose 1%, led by gains in JD Sports
on Nike Inc's upbeat forecast and
better-than-expected quarterly revenue and as overall retail
sales in the UK jumped in June.
"Given JD Sports position in the UK market, and its recent
acquisition of Finish Line, it's highly likely that JD Sports
will have reaped the benefits of this huge boost in Nike’s US
business," said Michael Hewson, chief market analyst at CMC
Markets UK.
The domestically focussed mid-cap index rose 0.6%.
UDG Healthcare added 1.0% after it said private
equity firm Clayton, Dubilier & Rice (CD&R) was considering
raising its offer to buy the healthcare company to 1,080 pence
per share.
Building materials business CRH gained 2% and was
among the top gainers on the FTSE 100 after brokerage Berenberg
raised its target price on the stock.
(Reporting by Shashank Nayar in Bengaluru; editing by
Uttaresh.V and Jonathan Oatis)
