Miners weighed on the FTSE 100 yesterday, tracking lower iron ore prices. The FTSE 100 ended the session just 0.1% higher. Miners are still a drag on the index today, with Rio Tinto and Anglo American losing about 3% so far.
Today, the mood is also hampered by retail sales, which showed volumes fell more-than-expected, by 0.9% in March, the Office for National Statistics said.
However, the GfK survey showed consumer confidence is at its highest level in over a year, although it is still in negative territory at minus 30.
As a result of these mixed signals, the FTSE 100 index was struggling for direction this morning.
Things to read today:
Janet Yellen warns US decoupling from China would be ‘disastrous’ (Financial Times)
Euro Area’s Economic Upswing Intensifies on Resurgent Services (Bloomberg)