Investing.com - Financial Markets Worldwide
🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

FTSE 100 gains on retail strength, stronger sterling weighs on exporters

Published 21/08/2020, 08:21
© Reuters.
UK100
-
MKS
-
FRAS
-
FTMC
-
FTNMX404010
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.1%, FTSE 250 up 0.6%
* UK PMI data due later in morning
* Robust retail sales recorded in July

Aug 21 (Reuters) - The UK blue-chip index eked out slim
gains on Friday as strong retail sales data alleviated some
concerns over an extended economic slowdown, though a stronger
sterling dragged on exporter stocks.
The FTSE 100 index .FTSE , which makes two-thirds of its
earnings from abroad, was up 0.1% by 0706 GMT, but the more
domestically-focussed FTSE 250 index .FTMC outperformed with a
0.6% rise.
Data showed that British retail sales surged past their
pre-coronavirus level last month, with investors also keeping an
eye on the purchasing managers' index survey due later in the
morning for signs of a steady recovery.
"These numbers are encouraging, despite the challenges
facing the UK economy, of which there are many, particularly
around sustainability of the furlough," said CMC Markets analyst
Michael Hewson.
A sub-index of retailers .FTNMX5370 led gains in early
trade, with Marks & Spencer MKS.L climbing 2% and sportswear
retailer Frasers FRAS.L rising 4%.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.