UK shares climb on airlines, US tech bounce
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UK shares rose on Friday, with the FTSE 100 climbing 0.4% and the FTSE 250 adding 1.0%. The gains were driven by positive sentiment on Wall Street following upbeat earnings from technology giants Meta Platforms and Amazon.com. Wizz Air, a UK airline, reported a 14.2% increase in passenger traffic in January, leading to a 9.4% rally in its shares. Other airline stocks, such as EasyJet and British Airways-owner IAG, also saw gains. Traders are now awaiting monthly U.S. payroll data for clues on the rate trajectory after the Federal Reserve shot down market expectations of early interest rate cuts. The Bank of England's decision on interest rates also influenced UK equities during the week. Sainsbury and Tesco, two UK grocers, gained 2.8% and 2.1% respectively after being upgraded by Morgan Stanley. BP, an oil and gas company, slipped 2.0% after shutting down its Whiting, Indiana refinery due to a power outage.

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