London stocks open lower after retail sales data; set for weekly gains
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
FTSE 100 down 0.4%; FTSE 250 down 0.2%
British retail sales up 0.3% for September
By Pranav Kashyap
Oct 18 (Reuters) - London stocks opened lower on Friday as investors digested an unexpected rise in retail sales data, although both indexes were poised to break a two-week losing streak, buoyed by anticipated Bank of England rate (BoE) cuts and healthy corporate updates.
The blue-chip index .FTSE was down0.4% after closing at its strongest level since late May in the previous session, while the domestically-focused FTSE 250 index .FTMC dropped 0.2% after hitting over a two-week high on Thursday.
A 1.7% gain in the industrial metal miners sector .FTNMX551020 kept losses at check, as copper prices rose due to China's stimulus measures. MET/L
Luxury brand Burberry's BRBY.L 3.6% gain boosted the personal goods sector .FTNMX402040 to lead sectoral gains.
British retail sales figures on Friday showed an unexpected 0.3% risein September, while analysts had forecast a monthly fall of 0.3%.
The sterling GBP=D3 ticked 0.4% higher after the data.
Consumer-focused stocks were the biggest drag on the benchmark, with heavyweight Unilever ULVR.L dropping 1.4%, while British American Tobacco BATS.L lost 1.6%.
The Dunhill and Lucky Strike maker said a plan has been filed in a Canadian court to potentially resolve and settle its Canadian subsidiary's tobacco litigation.
Meanwhile, both the FTSE 100 and FTSE 250 were on track to break a two-week losing streak. The FTSE 100 was poised for its best performance in over two months, while the FTSE 250 was set for its strongest week in three.
Gains were mainly powered by Wednesday's data that showed British inflation fell to 1.7%, below the BoE's 2% target, bolstering bets for a rate cut on Nov. 7, when the central bank convenes.
The rate-sensitive house-builder's sector .FTNMX402020 outperformed other sectors, gaining 6.8% this week; however, it was down 1.4% in the current session.
Among other notable moves, Future FUTR.L lost 7.7% after the British publishing firm said CEO Jon Steinberg will step down.
Reporting by Pranav Kashyap in Bengaluru; Editing by Sonia Cheema
For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
