UK's FTSE 100 was subdued on Friday as gains in energy firms countered losses in healthcare and mining stocks, though the index was bound for its best weekly performance in nearly four months on signs of slowing inflation.
The midcap index is headed for its best weekly performance since November.on Friday showed British retail sales rose more than expected in June, raising caution around monetary policy expectations.
"For the economy, this is welcome as robust domestic consumption will go a long way in helping the economy avoid slipping into recession," said Stuart Cole, chief macro economist at Equiti Capital. "But today's numbers will likely have been read with some concern inside the Bank of England, as they suggest more work needs to be done in its efforts to dull demand in order to tame inflation."from market research firm GfK showed British consumers have turned more pessimistic, ending a five-month streak of growing confidence levels.
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