Stocks rise on US and Asian gains

London stocks rose in early trade on Friday, boosted by stellar gains in the US and Asia after a cooler-than-expected US inflation print, even as data showed the UK economy was facing recession.

Also helping sentiment was news that China has decided to scrap Covid flight restrictions and cut the quarantine requirements for inbound travellers to eight days.

Victoria Scholar, head of investment at Interactive Investor, said: “European markets are trading higher thanks to cooler US inflation figures and China easing some of its Covid restrictions.

“Stocks which benefit most from the reopening of China’s economy are trading at the top of the FTSE 100 like Prudential and Anglo American.”

Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.

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