London stocks edge up as miners gain

The blue-chip FTSE 100 index was 0.3 per cent higher, while the mid-cap FTSE 250 gained 0.2 per cent

London's FTSE 100 edged up on Friday, as better-than-expected U.S. jobs data allayed fears of recession in the world's largest economy, while industrial metal miners further boosted recovery.

The blue-chip FTSE 100 index was 0.3 per cent higher, while the mid-cap FTSE 250 gained 0.2 per cent by 0709 GMT.

However, both indexes are set to post weekly declines for a second consecutive week.

Data showed on Thursday that weekly U.S. jobless claims fell more-than-expected, suggesting that fears of an unravelling labour market were overblown and allayed some fears of a potential U.S. recession.

Weak economic data last week spurring recession concerns in the U.S. and the unwinding of Japan's yen carry trade sparked a battering sell-off across stock markets on Monday.

On Friday, industrial metal miners led gains in London, adding 1.9 per cent, as copper prices bounced back and base metals advanced supported by rate-cut hopes and better-than-expected U.S. data.

Rate sensitive real estate investment trusts and real estate sectors also rose 1 per cent, each.

Energy and precious metal miners also added 0.4 per cent and 0.8 per cent, respectively, as oil prices rose and gold steadied.

On the flip side, personal care, drugs and grocery stocks led declines, down 0.4 per cent.

Investors are looking forward to next week, packed with inflation data both in the U.S. and the U.K., alongside Britain's gross domestic product (GDP) figures.

Among other stocks, Hargreaves Lansdown added 1.8 per cent after the investment platform agreed to a £5.44 billion ($6.94 billion) takeover by a consortium.

Beazly was the top gainer on the FTSE 100 for a second session in a row, gaining 2.3 per cent, after climbing more than 10 per cent on Thursday.