Good morning to you from London, where the FTSE 100 has started the day at what you could politely call a steady pace, following on from an uninspiring Monday in the US markets and a surprise 0.25% interest rate hike in Australia.
Fresh data from the British Retail Consortium out this morning shows that May’s trio of bank holidays failed to rouse shoppers, with a 3.9% year-on-year rise in UK retail sales less substantial a gain than the 5.1% recorded by the British Retail Consortium in April.
In the City, British American Tobacco boss has Tadeu Marroco recommitted to the company’s strategy of rolling out less harmful products, as the company reiterated a £5bn revenue target for 2025.
Shares in the UK’s two listed supermarkets Tesco and Sainsbury’s fell this morning as a survey by consumer group Which? found German discounters Aldi and Lidl were continuing to beat them on price.
And the future of Britain’s largest business group should get a little clearer later today. Members of the Confederation of British Industry will be voting on whether to wind the organisation up entirely.
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