FTSE 100 ended the week on the back foot after the last retail sales data showed a record 1.9% fall in volumes. London’s leading index lost 46 points to 6,668 early on Friday.
The downbeat mood wasn’t helped by the UK borrowing reaching the highest December figure on record of £34.1bn. Debt so far this year has hit £270.8bn.
Next PLC (LON:NXT) has scrapped its bid to acquire Philip Green’s collapsed high street classic Topshop. The new frontrunner is understood to be Chinese online fast-fashion giant Shein.
GlaxoSmithKline PLC (LON:GSK) has received approval in the US for HIV treatment Cabenuva, which combines two injectable medicines. Patients only have to take the inoculation once per month instead of every day.
Among the small caps, Learning Technologies Group PLC (LON:LTG) upgraded full-year revenues and earnings expectations thanks to strong performance in the software & platforms division. The digital learning group ended 2020 on a £70mln cash pile.
Evgen Pharma PLC (LON:EVG) said its lead compound was shown to block a protein present on many types of cancers. It means the firm can use it to work on treatment.
Union Jack Oil PLC (LON:UJO) said the West Newton gas project in Yorkshire is progressing well. Operator Rathlin confirmed a previous discovery last month.