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UK retail figures lighten the mood as FTSE edges up

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The FTSE 100 edged up 68.53 points, or 1.1%, to 6,292.60 today, with new UK retailing figures helping to lighten the mood.

Sales volumes partly rebounded last month, up 12% after a record drop in April, but were still down by 13.1% on February before the impact of the coronavirus pandemic.

The Office for National Statistics said non-food stores delivered the biggest contribution to growth in May, boosted by DIY outlets opening up again, while a record 33.4% of total sales were online.

Euan Murray, relationship director for Barclays’ corporate banking arm in Scotland, said: “Despite shops taking their first tentative steps towards reopening, the long-term future of the high street will be something the sector keeps a keen eye on.

“UK office workers account for a significant proportion of the footfall in shopping centres and town centres around the country so, with any return to workplaces likely to be very gradual, retailers will be looking at ways to adapt to this new geographic distribution of their customer base.”

The French Cac 40 and German Dax also ended the week with a final session boost, with both indices rising 0.4%. Brent crude oil was down slightly at $41.48, as of 5.45pm.​