UK stocks move higher after consumer confidence data

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Source: Dukascopy Bank SA
UK stocks are trading slightly higher on Friday amid mixed data from the Eurozone and the national economy. The Eurozone's unemployment rose from 11.6% to 11.7% last month, while German retail sales dropped more-than-expected in October. However, weak numbers from the Eurozone's were partly offset by an unexpected jump in the UK consumer confidence last month. The UK Gfk Consumer confidence climbed to minus 22 versus a reading of minus 30 in the preceding month. The FTSE 100 Index rose 0.29% to trade at 5,886.70. Six out of ten sectors within the index climbed. Industrials and financials were the best-performers. BAE Systems and IMI surged 1.5% and 1.73%, while HSBC Holdings and Barclays advanced 1.25% and 0.8%. Meanwhile, Intertek Group climbed 1.37% after Berenberg Bank raised the company's rating. At the same time, Royal Bank of Scotland Group dipped 1.3% after it agreed to sell its Indian retail and commercial banking business to HSBC Holdings.


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Fri, 30 Nov 2012 16:23:25 GMT

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