UK Stocks Head for Weekly Decline on Oil and Data
UK stocks are heading for weekly losses as rising oil prices fuel inflation concerns and rate hike bets. September retail sales fell more than expected while consumer confidence plunged.
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United Kingdom stocks are heading for weekly declines as Brent Crude Oil trades close to $114 a barrel, pressuring investor risk appetite. The blue-chip FTSE 100 index fell 0.5% to 10,670 points by Friday morning. Surging energy costs have compounded inflation concerns across the global economy following stronger-than-expected domestic price data in September.
