Investors' focus over the coming week would be on Wednesday's consumer price data which may hold the ley to whether the Bank of England hikes rates again in early May.
European markets held onto their gains at the end of the week as investors digested softer-than-expected US retail sales and a bevy of positive corporate updates.
Bank shares paced gains at the end of the week amid a raft of well-received sector earnings on the other side of the Atlantic and due to the possibility of further rate hikes in both the US and UK.
London markets closed higher on Friday, although both of the main indices gave up some earlier gains on the back of fresh US data.
The FTSE 100 ended the Easter Monday-truncated week up 208. 97 points, or 2,73%, closing at 7,871. 91 on Friday.
Consumer sentiment in the US was little changed even as inflation expectations moved up sharply, the results of a closely followed survey revealed.
London's FTSE 100 was up 0. 4% at 7,874. 21 in afternoon trade on Friday.
Peel Hunt upgraded Whitbread to 'buy' from 'add' on Friday and hiked its price target on the stock to 4,000. 0p from 2,850. 0p, stating it expects positive trading news from the company this year.
FTSE 250: 19,311. 72, +1. 27%.
Retail sales volumes shrank twice as fast as expected last month amid broad-based softness by categories.
Wall Street stocks were in the red early on Friday as traders digested a number of earnings from multiple major US banks.
US industrial production grew a bit more quickly than expected last month.
Shares in Dr Martens surged on Friday, despite the UK bootwear maker lowering profit guidance for the third time in five months as operational mistakes at its Los Angeles distribution centre cost more than anticipated.
Shares in William Hill owner 888 Holdings surged by a fifth on Friday as the bookmaker said it expected “significantly” higher adjusted core profit for this year.
Economists at Bank of America forecast that UK consumer price gains would slide from a rate of 10. 4% for February to 3. 8% by October.
HSBC cautioned on Friday that the sale of its French retail banking arm to Cerberus-backed My Money Group may not go ahead as planned due to interest rate increases in France.
Two major investors have come out in support of shopping centre owner Hammerson amid demands from its biggest shareholder to speed up asset sales and resume dividend payments.
J. P. Morgan shares jumped in trading before the opening bell on Wall Street after the banking heavyweight handily beat estimates on the Street for its first quarter results.
Citigroup reported first-quarter net income of $4. 6bn on Friday, or $2. 19 per diluted share, on revenues of $21. 4bn.
BlackRock reported $103bn of quarterly long-term net inflows in its first quarter earnings on Friday, representing annualised organic asset growth of 5%, driven by continued momentum in bond exchange-traded funds (ETFs) and significant outsourcing mandates.
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