- FTSE 100 flat, FTSE 250 dip 0.1%
- British retail sales unexpectedly rose
- NatWest hits near two decade high after Q3 results
- Gold miners fall on lower gold prices
Oct 24 (Reuters) - London stocks were little changed on Friday as investors exercised caution ahead of a pivotal U.S. inflation report, while the main indexes were on track for weekly gains aided by signs of cooling domestic inflation and easing trade tensions.
The blue-chip FTSE 100 is little changed at 1118 GMT, hovering near a record high, while the mid-cap FTSE 250 slips 0.1%, pinned near levels last seen in early 2022.
Both indexes are on track to end the week higher if gains hold, with the internationally focused FTSE 100 set for its biggest weekly rise in over six months after markets were relieved by signs that Sino-U.S. trade tensions are easing.
It has also been a good week for domestically focused companies, with the mid-cap index heading for its steepest weekly rise in four months after unexpectedly low inflation figures boosted expectations that the Bank of England will cut interest rates by 25 basis points in December.
Friday data also show retail sales unexpectedly rising for a fourth straight month, led by tech and jewellery sales. The broader retail sector added 1%.
Corporate earnings are in full swing in Britain. NatWest gained 2.6% to a near two-decade high after the bank reported a 30% rise in third-quarter profit and upgrading its 2025 performance target.
WH Smith rises 3.4% and is among the best FTSE 250 performers after brokerage Peel Hunt upgraded the travel retailer to "buy" from "hold".
Precious metal miners fall 2%, leading sector declines while tracking a profit-taking sell-off in gold, which is on course for its first weekly drop in 10 weeks.
London Stock Exchange Group rose 4.1% to the top of the FTSE 100 after at least three brokerages raised target prices following upbeat third-quarter results on Thursday.
Investor focus is now on U.S. consumer price figures due later in the day, set against the backdrop of an ongoing U.S. government shutdown. The data will help shape the Federal Reserve's policy decision when it meets next week.
Reporting by Avinash P; Editing by Tasim Zahid
Source: Reuters