London shares were expected to rise at the start of trading on Friday after strong trading in the US and Asia and better-than-expected UK retail sales.
The FTSE 100 was expected to open around 35 points higher.
previously announced numbers National Bureau of Statistics The survey showed retail sales rose 3.4% in January, following a downwardly revised 3.3% decline in December, comfortably beating economists’ expectations for a 1.5% rise.
Heather Bovill, deputy director for research and economic indicators at the ONS, said: “After a very weak December, retail sales rebounded in January with the strongest monthly increase since April 2021.” .
“This means that overall sales have returned to pre-December levels, but in a broader perspective they are still below pre-pandemic levels.”
capital economics “Overall, today’s announcements were stronger than expected, suggesting that the impact of rising interest rates on consumer spending is rapidly fading, and suggesting that the economy may soon be emerging from recession. “The result is a better year for retailers after a dismal 2023.” It should be in stock in 2024. ”
In corporate news, natwest bank It reported a 20% increase in operating profit and confirmed Paul Thwaite as permanent chief executive.
The bank has announced operating profits of 6.1 billion pounds in 2023. Total income rose to £14.7bn from £13.1bn in the same period last year.
Mr Thwaites was given a one-year contract in July last year after his predecessor Alison Rose resigned for breaching customer confidentiality in connection with the closure of far-right political activist Nigel Farage’s bank account. .
In other places, TBC Bank Group reported a significant increase in net interest income of 26.8% and fee and commission income of 27.8%, resulting in a 14.6% increase in gross operating profit to GEL 2.37 billion (£710 million). It was reported that it happened.
Despite a 36% increase in total provisions for credit losses and a 24.2% increase in operating expenses, the bank still achieved a pre-tax profit of Jira 1.33 billion, an increase of 7%. After a 20.3% decline in corporate tax expense, the Bank reported net profit of JPY 1.14 billion, an increase of 13.6% year-on-year.