FX.co ★ FTSE 100 Gains After GDP Data

UK stocks saw a rise in trade on Thursday, while the British pound experienced a slight decrease against its counterparts. This follows the revelation that the UK economy shrank in the final quarter of the year, in line with initial predictions.

The country's gross domestic product (GDP) experienced an unrevised fall of 0.3% after a mild drop of 0.1% in the third quarter, as confirmed by the final data released by the Office for National Statistics.

As a result of this confirmed technical recession coming to light in the tail-end of 2023, the economy's growth for that year stagnated at 0.1%, a drastic contrast to the expansive 4.3% seen in 2022.

When compared to the same quarter of the previous year, the real GDP in the last quarter diminished by 0.2%.

The FTSE 100, a benchmark index, rose by 23 points or 0.3% to 7954, following a slight increase in the previous trading day.

Notable is the 6% surge in JD Sports Fashion stocks. The sports, fashion, and outdoor brand retailer anticipate that their full-year profit, before tax and adjusted items, will align with their forecast of £915 million to £935 million.

Furthermore, Spirent Communications saw an impressive 11% upshot after accepting Keysight Technologies' offer which values the telecommunications company at £1.16 million ($1.46 billion).