The FTSE 100 climbed 0.4% to 8,184, taking its gains to only 1.4% over the week, on more evidence of how Budget uncertainty weighed on consumers last month.
Retail sales fell 0.7% in October, according to the Office for National Statistics, more than double the expected 0.3% drop ahead of Labour’s first Budget in 14 years, knocking the pound, which traded 0.6% lower at $1.2509 against the dollar.
‘Budget uncertainty was held up as the reason for consumers holding fire on spending, and sterling immediately weakened as a result,’ said Interactive Investor’s head of markets Richard Hunter.
