The FTSE 100 index narrowly avoided its lowest close of the year after a grim week for global stock markets.
London’s top flight fell again by 0.7% today, leaving it down by 3.5% since Monday as worries mount globally over higher-for-longer interest rates. It has lost 350 points over the course of a six-day losing streak.
For much of the day, the index appeared set for the lowest close since November 2023, but it rallied slightly in the last hour of trading.
Rising borrowing costs have added to pressure on the retail sector, resulting in today’s 1.2% fall in sales during washout July.
