FTSE 100 Holds Gains as Consumer Confidence Rebounds

Image Source : Proactive Investors

The FTSE 100 maintained its upward momentum as consumer confidence showed signs of recovery in May. The latest survey from GfK revealed a three-point increase in the headline index, reflecting improved sentiment regarding personal finances and the broader economy.

Market Performance

- The FTSE 100 gained 34 points, reaching 8,773, marking a 0.39 percent increase

- Retail sales rose 1.2 percent in April, driven by strong food sales and favorable weather conditions

- AJ Bell shares surged 9.9 percent following strong half-year results, with revenue up 17 percent

Consumer Sentiment Recovery

- The GfK consumer confidence index climbed to -20, reversing April’s decline

- Improved outlook on personal finances contributed to the positive shift in sentiment

- Increased spending on big-ticket items such as furniture and electronics signaled renewed consumer optimism

Retail Sector Boost

- The Office for National Statistics reported a 1.2 percent rise in retail sales for April

- Food sales saw a notable increase, while clothing and garden center purchases lagged

- Analysts predict a 0.3 percent GDP growth for Q2, supported by strong retail performance

Future Outlook

- The FTSE 100 is expected to maintain stability heading into the bank holiday weekend

- Investors are monitoring the impact of recent economic developments, including interest rate adjustments

- Market analysts anticipate continued consumer spending growth, reinforcing economic resilience

Sources: Proactive Investors, GfK Consumer Confidence Survey, Office for National Statistics, Economic Times

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FTSE 100 Holds Gains as Consumer Confidence Rebounds

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