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.
TSX Settles Lower As Trade Tensions Resurface
Crude Oil Prices Slip On Friday
Pound Drops As Trade Tensions Renew
Weighed Down By Tariff Uncertainty, Gold Slides
Swiss Market Ends Modestly Higher
Major European Markets Close Slightly Higher
Canadian Market Modestly Lower, Looks Headed For Another Weak Close
