Stocks rose on Friday after ECB President Lagarde reassured investors that it will lower rates once inflation is under control. Oil prices rose after the military strikes led by the US and the UK against Houthi rebels in the Re Sea area. Energy stocks outperformed, while luxury stocks tumbled due to Burberry issuing a profit warning. The FTSE 100 gained 0.6% on Friday but fell 0.8% for the week.

Among stocks today, Filtronic, a radio frequency communications equipment company, has won a GBP 2 million contract to deliver a radio-frequency subsystem for QinetiQ Group's range radar solution.

Crest Nicholson Holdings has issued another profit warning, the third one for 2023. Its adjusted pretax profit expected to be around GBP 41 million for the year ended October 31, a significant drop from the previous year's GBP 137.8 million. The company cited additional costs from a comprehensive cost review and an exceptional charge of GBP 13 million related to a legal claim from a fire-damaged apartment scheme. Crest Nicholson's shares fell 5.5% on the news.

Recruitement firm PageGroup reported a decrease in gross profit for 2023, with a year-over-year fall in the fourth quarter.

Ashmore Group announced a 4.4% increase in assets under management to USD 54.0 billion, driven by positive investment performance, despite net outflows. The company highlighted emerging markets' superior economic growth and the end of the US Federal Reserve's rate hiking cycle as factors supporting performance.

This week’s calendar includes UK inflation figures on Wednesday and fourth quarter figures from Morgan Stanley and Goldman Sachs on Tuesday. Currys, Dunelm and Ocado are among those due to report in the UK this week.

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