London, Friday 17 February 2023
The benchmark FTSE 100 declined from its record closing high to end below 8,000 points on Friday, putting pressure on the London stock market. Energy and financials firms contributed to this decline.
Hotter-than-expected US economic figures, which investors feel offers the Federal Reserve more room to hike rates, are what caused the shift in attitude. In terms of facts, January's British retail sales surprisingly increased by 0.5% over the prior month.
NatWest Group and Lloyds Banking Group were among the largest laggards in individual stock movements, declining by around 6.5% and 4%, respectively. Nonetheless, this week saw a 1.5% increase in the FTSE 100 index.
(Report and edit by: The Decision Maker - Finance editors)