The FTSE 100 has ended the day down 13.7 points or 0.25%, to 5,517.4, as Kuwait sold BP shares worth about $2bn, slashing demand for other heavyweight oil stocks, but investors bought retail stocks as expectations grew of Christmas cheer on the high street.
Concerns the holiday season of gift buying and sales would fail to rescue a lacklustre year had weighed on the sector, but food retailers like Morrison gained 6.25p, or 3.55%, to 182.25p, while Tesco moved up 8.5p, or 2.66%, to 327.5p. High street clothing stores also gained, with Next advancing 30p, or 2%, to 1,530p, while Marks & Spencer surged 6.75p, or 1.43%, to 479p. Argos stores owner GUS also saw gains, up 3.69% to 970.5p, after Deutsche Bank said the firm could separate its Experian credit checking arm in the near future, creating value for shareholders. Elsewhere, there was a...
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