UK’s benchmark FTSE 100 opened higher on Friday on a boost from energy and mining stocks, while a slump in top building materials supplier Travis Perkins following a profit warning pressured the mid-cap industrials.
The resource-heavy FTSE 100 was up 0.3% at 0718 GMT. The export-oriented benchmark index was on track for a weekly gain, underpinned by miners and a weak sterling.
Miners and energy stocks tracked crude oil and metals prices higher.
The FTSE 250 mid-cap index was listless.
Shares of Travis Perkins dropped 7.4% to a seven-month low after the British company flagged its profit would be hit by challenges in the country’s housing market.
ASOS jumped 6.2%, extending gains from the previous session on a return to profitability, with RBC raising its price target on the online fashion retailer.
Investors keenly await domestic inflation data and a Bank of England rate decision due next week following a hawkish pause from the US Federal and a 25-basis-point rate hike by the European Central Bank this week.
