FTSE 100 Struggles For Direction As Retail Sales Slip
(RTTNews) - U.K. stocks were trading on a flat note Friday after official data showed retail sales dropped at a slower pace in June.
Retail sales volume fell only by 0.1 percent month-on-month in June, following a revised 0.8 percent decrease in May, as food sales rebounded amid Jubilee celebrations. This was also slower than the expected 0.3 percent fall.
On a yearly basis, retail sales declined 5.8 percent after easing 4.7 percent in May. Sales were forecast to fall 5.3 percent.
The benchmark FTSE 100 was marginally higher at 7,273 after finishing marginally higher on Thursday.
Sportswear retailer JD Sports Fashion dropped half a percent after releasing a short trading update ahead of its annual general meeting.
HomeServe was little changed. The home repairs and improvements business said that trading for the period 1 April to 21 July has been in line with expectations.
Insurer Beazley jumped nearly 10 percent after raising its full-year profitability outlook.
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