- UK stocks closed Friday and the week firmly on the front foot as lingering fears of a no-deal Brexit kept the pound under pressure, assisting exporters.

The pound slumped by 0.14% against the dollar and 0.34% versus the euro after Bank of England policy committee member Michael Saunders indicated that UK interest rates may be cut due to Brexit uncertainty.

At the close the benchmark FTSE 100 index was up 75.13 points, or roughly 1%, at 7,426.21 with UK domestics earners and exporters rallying.

Housebuilder Persimmon topped the FTSE 100 leader board, its shares jumping more than 4% to £21.51 as it underlined the popularity of UK revenue earners.

Mining group Fresnillo was the big FTSE 100 looser of the day, down 3.7% at 7.3p.

Bouncing off a big sell-off yesterday was cash-strapped Metro Bank, which rallied 16% to 192.7p.

Marine services group James Fisher gained 2.7% to £21 on news that it had won a 'multi-million pound' contract for the design and build of submarine rescue equipment.

Water and waste-management group Pennon added 2.2% to 810.2p on announcing that it would review its capital allocation policy amid a 'strong' financial performance.

Veterinary company CVS rallied 7.9% as it posted a 15% rise in annual profit, buoyed by a significant improvement in its second-half performance. The stock is was changing hands at 982p.

Funeral group Dignity rose 4.9% to 535p after it appointed former London Stock Exchange director Clive Whiley as its new chairman.

Broking house Numis shed 4% to 232p, as it warned that it expected to report a fall in annual profit, as political uncertainty in the UK continued to hurt trading volumes.

Wind-power investor The Renewable Infrastructure Group fell 3.6% to 126.2p after it launched a share issue at 123p to help pay down debt and fund new acquisitions.

Oil service business Hydrodec tanked 63% after warning on profits and launching an accelerated strategic review. The stock collapsed from 42p to 15.15p with investors worrying about the very survival of the business.

Heating product hire company Andrew Sykes sank 11.5% to 557.5p, as a mild winter cut demand for its products and sent its profits south.

Learning and skills development company Malvern International lost earlier gains to stay flat at 2p, despite posting a first-half loss owing to a write off the value of its Malaysian assets.

The company also posted a 33% rise in revenue that was slightly ahead of its expectations.

Story provided by