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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.
Australian Market Extends Early Losses In Mid-market
Asian Markets Trade Mixed
Sensex, Nifty Seen Tad Higher At Open
Thai Stock Market Expected To Open In The Red Again On Monday
Indonesia Bourse May Turn Lower Again On Monday
Japanese Market Sharply Lower; Down 2%
No Help Yet For Hong Kong Stock Market
