FTSE 100 Index Dips With The 250 Green Amid Mixed Retail Sales Data

London stocks opened slightly lower on Friday as the FTSE 100 index edged down by 0.23% to 8,327,76, against the backdrop of new UK retail sales figures.

With the Footsie up 1.94% on the week so far, this would reflect the best weekly performance on the index since May depending how the session develops. Moving back to retail sales data, and the latest numbers reveal a mixed picture of the sector, with July seeing a 0.5% increase in sales volumes compared to the previous month.

The sector experienced variances at the category level. Department stores and stores selling sports equipment reported rises in sales, signalling consumer confidence in specific markets. On the opposite spectrum, retailers offering clothing, furniture, and fuel faced a decline, hinting at potential shifts in consumer spending patterns or economic pressure in these domains.

The domestically-focussed mid-cap FTSE 250 index is essentially flat on the day so far, but threatening to go green as it looks to retest 21,100.

AstraZeneca's share price opened up at new 52 week highs of 13,218, having been in the spotlight due to the US FDA's approval of ‘Imfinzi', a treatment for lung cancer, which could have implications for the company's valuation.

Entain's shares (LON: ENT) have also stood out with a 2.45% increase after receiving an upgrade from Goldman Sachs, advancing from “sell” to “neutral.” The improved rating for the gambling group reflects a brighter outlook by one of the leading investment banks, possibly signalling an increased confidence in Entain's market position and business prospects.

Despite the positive retail sales data for the start of the third quarter, economists caution that the recovery is not as widespread as some might expect, suggesting that consumer behaviour remains complex and uncertain.

Check here to see all the latest movers on the FTSE 100 index today.

Whilst the London stock exchange has experienced a cautious open to end the week amid new retail data, the session is young. The retail sales improvement is a positive sign, but it's juxtaposed with the cautionary note from economists and the discreet performance across different segments of the market.