London shares experienced a modest rise on Friday, supported by advancements in drugmaker AstraZeneca, as investors monitored important U.S. inflation data that could impact the Federal Reserve’s rate decision in the coming week. The blue-chip index experienced an uptick of 0.2% by 11:05, while the midcap index climbed 0.4%. Both indices seemed ready to wrap up the week with little variation. Data released on Friday indicates that Britain’s housing market experienced a slowdown in November, reflecting declines in both annual and monthly metrics as the government approaches its budget announcement.

Home builders experienced an increase of 1.1%. The investment banking and brokerage services index has experienced a rise of 1.5%. Investment firm 3i Group has seen a notable increase of 3.1%, marking the highest gain in the FTSE 100. Personal goods shares have opened new tab led sectoral gains, with Watches of Switzerland experiencing a 4% increase following price target upgrades from three brokerages. Burberry saw an increase of 2.8%, while Dr. Martens rose by 1.3%. Chemicals shares gained 1.7% in today’s trading session. Specialty chemicals makers Elementis and Victrex saw their shares rise more than 3% following Jefferies’ decision to raise price targets for both companies.

Conversely, oil & gas shares have pulled down the index by 1.8%, with major players BP and Shell experiencing declines of 2.4% and 1.5% respectively, following a drop in oil prices. Bank of America Global Research has lowered BP’s rating to “underperform” from “neutral”. AstraZeneca has seen a 1.3% increase, breaking a six-day losing streak. Technology group Ocado saw its shares rise by 5.3% following the announcement of a $350 million payout from Kroger due to the closure of its robotic warehouses. Bakery chain owner Greggs experienced a stock price surge of 5.7% following J.P. Morgan’s initiation of coverage with a “overweight” rating.

Investors globally are paying close attention to the U.S. personal consumption expenditure data, which is the Federal Reserve’s preferred gauge of inflation, as they gear up for the interest rate decision next week, with markets expecting a 25-bps rate cut.