London Markets: FTSE 100 follows Europe’s lead higher as Italy forms a new government

U.K. stocks bounced up Friday as the broader European equity market found cheer from the formation of a new government in Italy, but London’s blue-chips benchmark was headed for a lackluster weekly performance.

How are markets performing

The FTSE 100 index UKX, +0.44% rose 0.5% to 7,715.67, as the basic materials and financial sectors rose. But the health care and consumer goods groups lagged behind. On Thursday, the index fell 0.2% but closed the month of May higher by 2.7%.

The benchmark this week is on course to slip 0.2%, largely rattled by Tuesday’s selloff in global equity markets that was spurred by Italy’s political crisis.

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