On Friday, British stocks pulled lower, hovering around a two-month minimum and facing a descend for a week stuffed with concerns over corporate results.
The FTSE 100 dipped 0.5%, trading at 6,074.32. Evidently the close at that level would be the benchmark’s lowest outcome since March 10, as FactSet states. By the way, on Thursday, this blue-chip benchmark lost 1%.
This week a bunch of corporate earnings posts proved quite gloomy to market participants worldwide. Disappointing results from American retailers naturally resonated, as American economy is mostly powered by consumer spending.
It definitely puts the spotlight on April American retail sales news.
Traders definitely require something to cheer at this particular moment, as some financial experts stress.
Thursday’s shocking leap in weekly jobless claims in the Atlantic generated more misery.
Among Friday’s movers, we should point out to Coca-Cola HBC AG, its stocks edged down 3.1% after the world’s second largest Coca-Cola bottler reported a 2.7% dip in its quarterly profit, affected by weak emerging-market currencies.