Advertisement
FTSE 100 Slips On Downbeat Retail Sales Data
(RTTNews) - U.K. stocks fell on Friday after data showed U.K. retail sales registered a bigger-than-expected fall in July as a result of poor weather and the rising cost-of-living.
The retail sales volume declined 1.2 percent month-on-month in July, offsetting June's 0.6 percent increase. This was the first drop in four months. Sales were forecast to fall 0.5 percent.
On a yearly basis, the decline in overall retail sales deepened to 3.2 percent from 1.6 percent in June. The annual fall also exceeded the expected fall of 2.1 percent.
The benchmark FTSE 100 was down 52 points, or 0.7 percent, at 7,258 after ending 0.6 percent lower on Thursday.
China-related miners declined following Evergrande's bankruptcy filing in New York. Anglo American, Antofagasta and Glencore lost 2-3 percent.
Insulation and building materials group Kingspan tumbled 3.5 percent after first-half revenue slipped in a challenging environment.
Temple Bar Investment Trust fell about 1 percent after reporting earnings results for the half-year ended June 30, 2023.
U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes
European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment
Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries
U.S. Construction Spending Unexpectedly Sees Further Downside In June
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July
Eurozone Inflation Steady At 2% ECB Target
