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FTSE 100 powered by miners and encouraging retail sales

by LLB Reporter
19th Nov 21 10:51 am

The FTSE 100 made some gains today, powered by encouraging retail figures.

This comes despite the unexpected revelation that Ryanair is to fly off into the sunset and leave the London stock market behind.

If Shell’s decision to pivot to London was chalked up as a Brexit win, this is likely to be characterised as a Brexit loss in some quarters, coming after restrictions were introduced on UK investors buying its shares at the start of the year.

AJ Bell investment director Russ Mould said: “Miners helped power the FTSE 100 to modest gains on Friday morning and there was some modestly encouraging news on UK retail sales and consumer confidence.

“The data suggests a rising cost of living hasn’t (as yet) overly depressed spending on material goods. Though the October retail sales figure is likely to have been boosted by early Christmas shopping as people look to avoid being caught out by shortages.

“Amid generally weak trading in Asia, not helped by soggy figures from Chinese e-commerce giant Alibaba, Japanese stocks made gains as incoming Prime Minister Fumio Kishida announced a massive £363 billion stimulus package.”

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