Economy

FTSE 100 Declines As Retail Sales Growth Slows

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2023-06-06 09:08:43  • 1 min

U.K. stocks declined on Tuesday after data from the British Retail Consortium showed British retail sales growth slowed to a seven-month low in May as a result of rising food costs.

The benchmark FTSE 100 was down 39 points, or half a percent, at 7,561 after finishing marginally lower on Monday.

N Brown Group plunged 15 percent after it swung to a pre-tax loss in the fiscal 2023 in a "challenging" market.

Paragon Banking Group surged 8.5 percent after upgrading its FY23 guidance and launching a second 50.0-million-pound ($62.2 million) share buyback program for the year.

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