UK Shares advance despite declining retail sales

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Source: Dukascopy Bank SA
U.K. Stocks rose extending their gains as the FTSE 100 Index was at its highest since May 2008. The gauge advanced on expanding Chinese economy and better than expected data for the world's largest economy. The Chinese data offset U.K. retail sales figure that fell unexpectedly 0.1% in the last month. The FTSE 100 advanced 0.6%, or 38.73 points, to 6,171.38. The gauge has gained 4.5% so far this year. All indexes in the gauge advanced with basic materials adding the most by 1.3%. Evraz Plc rallied 4.84% supporting the best performing basic materials sector. Johnson Matthey, specialty chemicals company, added 3.10% and Rio Tinto,international mining company, soared 3.08% to also pace gains in basic materials. Meanwhile, Kingfisher lost 2.1%, capping further increase in the consumer services shares that were 0.5% up, whereas Johnson Wolseley Plc, distributor and wholesaler of bathroom materials, heating and plumbing supplies, erased 1.84% to cap further improvements in the consumer goods sector that was 0.81%.
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Fri, 18 Jan 2013 16:49:03 GMT

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