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London stocks and sterling slip on dire data

Cineworld. Photo by Kirsty Anderson The London markets and sterling stumbled on the back of a slew of poor economic data and caution over the potential for harsher travel restrictions across Europe. January s early PMI (purchasing manager s index) figures came in significantly below economist expectations after the latest lockdown hammered private sector activity. Meanwhile, new figures from the Office for National Statistics (ONS) showed that retail sales in 2020 fell at the fastest rate in 23 years, while government borrowing rose to £34.1 billion last month. The FTSE 100 closed 20.35 points, or 0.3% lower, at 6,695.07 at the close of play on Friday. It is a broad-based sell off, as fears that England s lockdown might last until summer has impacted most sectors, said David Madden, market analyst at CMC Markets UK.

London stocks and sterling slip on dire economic data

The London markets and sterling stumbled on the back of a slew of poor economic data and caution over the potential for harsher travel restrictions across Europe. January’s early PMI (purchasing manager’s index) figures came in significantly below economist expectations after the latest lockdown hammered private sector activity. Meanwhile, new figures from the Office for National Statistics (ONS) showed that retail sales in 2020 fell at the fastest rate in 23 years, while government borrowing rose to £34.1 billion last month. The FTSE 100 closed 20.35 points, or 0.3% lower, at 6,695.07 at the close of play on Friday. “It is a broad-based sell off, as fears that England’s lockdown might last until summer has impacted most sectors,” said David Madden, market analyst at CMC Markets UK.

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