U.K. stocks ended lower for a second straight session Friday, with retail stocks in the red, but London’s blue-chip benchmark still notched a win for the week. The FTSE 100 index shed 0.1% to close at 7,409.64. Tech, health care and consumer-related shares fell, but the financial and oil-and gas sectors ended higher. For the week, the benchmark rose 0.4% and that snaps a two-week run of losses. The pound changed hands at $1.3333, up from $1.3307 late Thursday in New York. Sterling picked up about 0.9% against the U.S. dollar this week. Retailers of all stripes will be in battle-mode over the next few weeks as the holiday shopping season ramps up. Black Friday sales are running across the
U.K. as well as the U.S. Retail shares on the FTSE 100 were lower Friday. On the political front, U.K. Prime Minister Theresa May was in Brussels discussing Brexit matters with the European Council President Donald Tusk. May is reportedly aiming to extend an offer of £40 billion for a so-called divorce bill as Britain prepares to leave the European Union. EU officials have said that issue needs to be settled before they can start discussions on trade of goods and services.
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