Homebuilders, consumer stocks push FTSE 100 higher

London’s FTSE 100 was boosted by heavyweight homebuilders and consumer discretionary stocks on Friday, although concerns over a recent jump in coronavirus infections outweighed reopening optimism and kept the index on course for a muted weekly show.

The FTSE 100 climbed 0.2% with homebuilders gaining the most, up nearly 1.6%. Consumer heavyweights Reckitt Benckiser, GlaxoSmithKline and Unilever (LON:ULVR) were the top boost to the index.

The domestically focussed mid-cap index added 0.3% with homebuilder Bellway (LON:BWY) being the top gainer.

Both indexes were set to end the week flat as a jump in coronavirus infections countered reopening optimism and robust corporate earnings during the week.

After market hours on Thursday, JD Sports Fashion said its remuneration committee’s chair would leave the board following a shareholder rebellion over management pay at Britain’s biggest sportswear retailer. Its shares dropped 0.8% on Friday.

Globally, sentiment was strong as shares held near record highs as investors looked to U.S. jobs data for signs of balanced economic growth with tame inflationary pressure. [MKTS/GLOB]