London’s FTSE 100 bucked its winning streak at the open on Friday despite fresh data showing a steady uptick in retail sales last month.
Retail sales volumes climbed as expected by 0.5% in July, following a 0.9% drop a month earlier. This was fuelled by a rise in shopping at department stores and on sports equipment as the Euros football tournament and Olympics in Paris took place.
Sports Direct owner Frasers Group had initially led the riser, before slipping back to around flat.
Housing stocks including Persimmon, Rightmove and Barratt Developments were among those weighing on the FTSE 100 though after a report warned that government housing targets may prove challenging to meet. Government targets to build 1.5 million homes over the next five years may not be met if the focus is placed entirely on building new towns, the think tank Centre for Cities revealed.