BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks advanced on Friday and the pound fell as Britain and European Union negotiators played down expectations a deal will be reached.
Speaking in the European Parliament, Michel Barnier, the EU's chief negotiator said it was 'the moment of truth' for the two sides to come to an agreement.
European Commission President Ursula von der Leyen said bridging 'big differences', particularly on fishing rights, would be 'very challenging' while Prime Minister Boris Johnson said discussions were in a 'serious situation'.
Meanwhile, U.K. retail sales declined less-than-expected in November despite restrictions imposed to contain the second wave of the Covid-19, the Office for National Statistics said.
The retail sales volume dropped 3.8 percent month-on-month in November, in contrast to the 1.3 percent rise logged a month ago. This was the first decline in seven months and was smaller than the economists' forecast of -4.2 percent.
Separately, market research firm GfK said a gauge of confidence among British consumers jumped by the most in eight years in December, boosted by the rollout of the first covid-19 vaccine program in the country.
The benchmark FTSE 100 rose 35 points, or half a percent, to 6,586 after declining 0.3 percent on Thursday.
British Airways-owner IAG dropped 1 percent after reports that it had agreed to buy Spanish carrier Air Europa for 500 million euros ($612.55 million).
Halma advanced 1.7 percent. The technology company said it sold Fiberguide Industries Inc. to Molex for a total cash consideration of $38 million on a cash and debt free basis.
Barclays was down 0.6 percent. The bank said Ian Cheshire will step down as a director and the chair of Barclays Bank UK Plc.
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