{"id":60027,"date":"2025-05-23T11:28:29","date_gmt":"2025-05-23T11:28:29","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/05\/23\/ftse-pares-early-gains-up-marginally-in-cautious-trade\/"},"modified":"2025-05-23T11:28:29","modified_gmt":"2025-05-23T11:28:29","slug":"ftse-pares-early-gains-up-marginally-in-cautious-trade","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/05\/23\/ftse-pares-early-gains-up-marginally-in-cautious-trade\/","title":{"rendered":"FTSE Pares Early Gains, Up Marginally In Cautious Trade"},"content":{"rendered":"
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U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.<\/p>\n

The benchmark FTSE 100 was up 11.09 points or 0.13% at 8,750.35 nearly half-an-hour past noon. The index had advanced to 8,779.55 earlier in the session.<\/p>\n

Anglo American Plc is up 4.2% and EasyJet is gaining 4%. Melrose Industries, IAG, Endeavour Mining, 3i Group, Convatec Group, Antofagasta, Glencore, WPP, GSK, Whitbread and Fresnillo are up 1 to 2%.<\/p>\n

Shares of investment platform AJ Bell Plc are up 7.5% after the company posted a 12% year-over-year rise in half-yearly profit before tax and raised its FY 25 guidance.<\/p>\n

Games Workshop is declining 4.8%. Marks & Spencer, Beazley, Prudential and Hiscox are down 2 to 3%.<\/p>\n

Diageo, JD Sports Fashion, Centrica, Severn Trent, Diploma and Weir Group are lower by 1 to 1.6%.<\/p>\n

On the economic front, UK retail sales rebounded more than expected in April as good weather boosted food store sales, official data showed on Friday.<\/p>\n

A monthly survey today showed that British consumer confidence strengthened in May on hopes of easing trade tensions and the interest rate reduction by the Bank of England.<\/p>\n

Data from the Office for National Statistics showed retail sales grew 1.2% on a monthly basis in April, following a revised 0.1% rise in March. Sales were expected to climb only 0.3%.<\/p>\n

The four consecutive monthly rises in retail sales led to a 1.8% increase in the three months to April period compared to the previous three months. Sales, thus, marked the biggest three-monthly rise since mid-2021.<\/p>\n

Moreover, on a yearly basis, sales volume increased 2.6% in the three months to April, posting the largest growth since March 2022.<\/p>\n

In April, retail sales, excluding auto fuel, grew 1.3 percent month-on-month, faster than March’s 0.2 percent in March. The rate was also better than the forecast of 0.3%.<\/p>\n

Year-on-year, retail sales growth accelerated more-than-expected to 5% from 1.9% in March. Sales were forecast to grow 4.5%.<\/p>\n

The GfK consumer confidence index rose to -20 in May from -23 in April, survey results showed Friday. All five key indicators improved in May, led by two forward-looking findings. <\/p>\n<\/p>\n<\/div>\n