Strong US economic data brings welcome cheer to London market

The London market closed higher with traders cheered by strong US economic data, soothing a hangover caused by Thursday’s stark warning by the Bank of England governor about the cost of a Brexit vote.

American retail sales posted their biggest rise in a year, jumping by 1.3% year-on-year in April, restoring confidence in consumer spending in the world’s largest economy.

The Ftse 100 lifted 34.3 points to 6138.5, following falls early in the session and a 58-point slump on Thursday after Bank governor Mark Carney said a Brexit vote could tip the UK into a “technical recession” and see the pound plunge in value.