Rolling live coverage of business, economics and financial markets
Some more details on the UK’s retail sales increase: it appears that the online sales surge since lockdowns redirected spending away from bricks and mortar shops has slightly abated – but it still looks like it could have a lasting effect.
The ONS said:
Online retail sales fell by 2.5% in August when compared with July, but the strong growth experienced over the pandemic has meant that sales were still 46.8% higher than February’s pre-pandemic levels.
It’s looking like a fairly dreary start on stock market indices across Europe.
The FTSE 100’s declines have been led by industrials such as GKN owner Melrose, jet engine maker Rolls-Royce and weapons maker BAE Systems. Gold and silver miner Polymetal was the worst performer after its biggest shareholder sold its stake.
