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The FTSE 100 slipped in the day’s trade amidst U.K.’s retail sales falling the most in three years. Mixed corporate earnings also weighed on sentiment.<\/p>\n
According to the Confederation of British Industry’s latest report, monthly retail sales balance fell by 18 points to -50 in January, implying the fastest decline in retail sales volume since January 2021.<\/p>\n
FTSE 100 oscillated between 7,540.21 and 7,508.80 as compared with the previous day’s closing level of 7,527.67. <\/p>\n
The benchmark index of the London Stock Exchange is currently trading at 7,515.46, having slipped 0.16 percent on an overnight basis. <\/p>\n
In the 100-scrip index, only 34 are trading in the overnight negative zone. <\/p>\n
Intermediate Capital Group surged 4.9 percent, followed by Smurfit Kappa Group that rallied 2.7 percent. Mondi, Ashtead Group, Compass Group and BP, all added more than a percent. <\/p>\n
St James’s Place plunged more than 6 percent. RS Group, Hikma Pharmaceuticals, Standard Chartered and Fresnillo are the scrips that erased more than 2 percent. <\/p>\n
While the Dollar Index edged down 0.04 percent to 103.19, the GBP\/USD pair increased 0.07 percent overnight to 1.2732. The sterling ranged between $1.2743 and $1.2703 in the day’s trade. <\/p>\n
Bond yields in the U.K. hardened much more than its counterparts in Europe, jumping close to 2 percent to 4.0675 percent. The same was 3.989 percent a day earlier. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n