UK’s benchmark index FTSE 100, plunged 0.1% on Friday, opening to defy growing optimism of economic recovery. Other European stocks went contrary to FTSE as French CAC and German’s DAX gained 0.3% and 0.2%, respectively.
The fall in FTSE happened when retail data showed sales jumped 9.2% in April as non-essential shops continued with the reopening.
Removal of travel restrictions also caused a surge in fuel sales as petrol stations recorded a 69.4% increase in demand in April from March.
Online spending fell 5.6% last month as consumers flocked physical outlets as the proportion of time spent online slipped from 34% in March to 30% in April.
UK Consumer Confidence rose to the highest since March 2020 to hit -9 in May, up from -15 in April.
Economic outlook optimism for the next 12 months in the UK rose by 15 percentage points.
In the US, S&P 500 futures jumped 0.2% while Nasdaq gained 0.2%.
Asian markets were mixed with Nikkei up 0.8% as Shanghai Composite shed 0.6%.
Global stocks are currently mixed. FTSE is down 0.19%, DAX is up 0.12%, Nikkei 225 is up 0.78%, SSE Composite Index is down 0.58%.
