FTSE 100 Slips Amid Rate Woes
(RTTNews) - U.K. stocks were moving lower on Friday as concerns over U.S. rate hikes overshadowed strong retail sales data.
U.K. shop sales volumes unexpectedly rose by 0.5 percent in January, after falling in December, official figures showed.
The benchmark FTSE 100 was down 40 points, or half a percent, at 7,973 after rising 0.2 percent the previous day.
Kingspan Group shares soared 6.3 percent. The Irish building materials firm reported higher revenue and profit last year despite "bumpy" economic conditions.
Medical products maker Smith+Nephew fell about 1 percent after naming Rupert Soames as its new chairman designate.
Warehouse specialist SEGRO advanced 1.5 percent after delivering a strong operational result for 2022.
Lender NatWest fell more than 8 percent despite reporting a strong rise in annual profits.
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