FTSE 100 Rises As Retail Sales Rebound

U.K. stocks rose notably on Friday after retail sales rebounded by much more than expected in January.

Retail sales surged by 3.4 percent in the month after sliding by 3.3 percent in December. Economists had forecast retail sales to increase by 1.5 percent in January.

The benchmark FTSE 100 was up 49 points, or 0.7 percent, at 7,647 after edging up 0.4 percent on Thursday.

Dialight, the global leader in LED lighting for heavy industrial applications, fell nearly 2 percent on news that Fariyal Khanbabi has decided to step down as Chief Executive Officer and as a director of the company with immediate effect.

NatWest Group rose over 2 percent as the bank announced its biggest annual profit last year since the 2007 financial crisis.

Warehousing group Segro added 1.3 percent after narrowing its FY23 loss before tax on rent growth and strong occupier demand.

For comments and feedback contact: editorial@rttnews.com

Market Analysis