BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks moved higher on Friday, with travel-related companies rising after airlines launched legal action against the government's quarantine rules for inbound travelers.
Meanwhile, investors shrugged off the news that the U.K. economy suffered a record contraction in April amid the country's pandemic lockdown and health crisis.
GDP contracted by 20.4 percent in April from March, when it was down 5.8 percent. GDP was forecast to fall 18.4 percent. In three months to April, GDP decreased 10.4 percent, slightly faster than the expected fall of 10 percent.
Industrial output declined by a record 20.3 percent in April from the previous month, with manufacturing providing the biggest downward contribution, falling by a record 24.3 percent.
Another report from ONS showed that the visible trade deficit narrowed to GBP 7.49 billion from GBP 11.85 billion in March. Exports and imports were down 14.9 percent and 21.9 percent, respectively.
The benchmark FTSE 100 rose by 68 points, or 1.1 percent, to 6,145 after losing 4 percent in the previous session.
British Airways owner International Consolidated Airlines Group surged 5.7 percent, easyJet Plc jumped almost 7 percent and Ryanair Holdings gained 1 percent.
Shares of Games Workshop Group jumped 10 percent after the manufacturer of miniature war games lifted its forecast for fiscal 2020 pre-tax profit.
Pearson advanced 12 percent after a regulatory filing revealed activist investment firm Cevian Capital has built a stake in the education company.
Informa gained more than 9 percent. The events and academic-publishing group said it has identified cost savings of at least GBP400 million.
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