Newspaper article The Journal (Newcastle, England)

Retail Gloom Fails to Stop FTSE Rise

Newspaper article The Journal (Newcastle, England)

Retail Gloom Fails to Stop FTSE Rise

Article excerpt

Byline: FTSE 100 Jeffrey Ball Brewin Dolphin

THE FTSE 100 Index continued to bolster its position after a strong start to the year, rising 22 points to 6154 - its highest since May 2008.

The latest retail sales figures from the Office for National Statistics offered little respite for the retail sector, which has been the subject of much media coverage of late thanks to several big names falling into administration.

Compared to a year ago, the quantity of goods bought in December overall increased by just 0.3%, the lowest year-on-year increase since 1998, barring the heavily snow-afflicted 2010. However, there was better news for online retailers, where sales increased by 1.2% as PS8.5bn was reportedly spent across all retailing in December.

With the snow setting in across much of the UK, within the FTSE 100 Index shares in International Consolidated Airlines fell 1.6% as more and more flights were cancelled and airports shut. …

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