FTSE 100 Live: Stocks seen building on strong start to year

7.32am: Retailers see poor December to cap off disappointing Golden Quarter

Retailers’ hopes for a Christmas-fueled revival were never met as footfall fell in December to cap off a poor Golden Quarter and tough year as a whole, figures on Friday showed.

According to the British Retail Consortium (BRC), footfall in UK shops declined by 2.2% year on year last month.

Though this marked an improvement from the 4.5% drop seen in November, a further fall meant footfall was down by 2.5% over the Golden Quarter in the three months to December.

High street footfall decreased by 2.7% in December, while shopping centre’s faced a 3.3% drop as shopper numbers across retail parks remained flat year on year.

BRC chief executive Helen Dickinson noted “a drab December” had capped off a “disappointing year” in which retail footfall dropped by 2.2% against 2023.

Footfall across UK shops had fallen for two consecutive years as a result, she pointed out.

“High streets and shopping centres were hit particularly hard throughout the year as people veered towards retail parks to take advantage of free parking and the variety of larger stores,” Dickinson added.

“Shopping habits have been changing fast and customers are increasingly looking for more experiential shopping, as well as a variety of cafes, services and things to do.

“Unfortunately, investment in town centres and high streets is held back by our outdated business rates system, which penalises town and city centres.”

7.13am: Stocks to climb further

Futures pointed to another positive start for London’s blue chips on Friday as the was seen adding 11 points to reach 8,251.

The FTSE 100 had rallied by 87 points on Thursday to mark a strong start to the new year’s trading, while Endeavour Mining PLC (LON:) (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:LON:) led gains.

Both had benefited from continued optimism around prices heading into 2025, with the precious metal trading up 0.85% at US$2,657 an ounce on Monday.

Elsewhere, Asian markets were mixed overnight as South Korea’s Kospi racked up the biggest gain of 1.8%, while China’s Shenzhen was the largest faller, down 1.9%.