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Defensive stocks lead rebound in FTSE 100

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Reuters UK

By Boleslaw Lasocki (Reuters) -UK’s FTSE 100 rose on Friday, lifted by defensive stocks at the end of a choppy week that saw investor anxiety over hawkish central banks, weak economic readings and heightened risks of a global recession. The blue-chip index climbed 2.7%, with the biggest rises in healthcare and consumer staples stocks that tend to decouple from economic cycles. The domestically focussed FTSE 250 rose 2.3%. Both the FTSE 100 and the mid-cap index snapped a three-week run of losses. Data showed British retail sales volumes slid by 0.5% in May, showing that consumers cut back on s…

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