FTSE 100 Marginally Higher At Midday

(RTTNews) - U.K. shares edged higher in choppy trade on Friday after a report from market research firm GfK showed its gauge of consumer confidence improved in May. A measure of the economic outlook also increased from the weakest reading in almost three years.

Heading into a long weekend, traders await U.S. GDP data and comments from Federal Reserve Chair Janet Yellen later in the day to see if an interest-rate increase is still in play for June's policy meeting.

The benchmark FTSE 100 was up 5 points or 0.08 percent at 6,270 in midday trading after ending a choppy session marginally higher on Thursday.

Among the prominent gainers, Burberry Group, Next Plc, Severn Trent and United Utilities Group rose about 1 percent each.

Banks traded mixed, with Barclays and HSBC Holdings rising about half a percent each, while The Royal Bank of Scotland slipped 0.3 percent and Standard Chartered lost 0.8 percent.

Energy giant BP Plc shed half a percent and Royal Dutch Shell edged down marginally as oil prices eased from seven-month high to below $49 a barrel on oversupply concerns.

Outsourcing firm Capita dropped 1.7 percent as Exane BNP Paribas cut its rating on the stock to "underperform" from "neutral", citing concerns over its earnings outlook.

Mining company Anglo American slid half a percent after announcing the appointment of Bruce Cleaver as CEO of the De Beers Group.

Antofagasta fell 1.5 percent while Rio Tinto advanced 1.3 percent and Glencore added half a percent.

Drugmaker AstraZeneca eased marginally on news its new drug for high potassium levels would not be approved by U.S. regulators at present due to a manufacturing issue.

Heating and plumbing products supplier Wolseley traded flat. The company said a finance chief it recruited in January would not be taking up his role later this year.