FTSE 100 down as retail sales slide in October

<p>The FTSE 100 has lost ground as retail sales took a tumble in October.</p>

The FTSE 100 has lost ground as the day's trading comes to a close today (November 15th), following a report that shows consumer demand dwindled in October.

According to the Office for National Statistics (ONS), UK retail sales fell by 0.8 per cent last month – which is a greater-than-anticipated slide, having risen by 0.5 per cent in September.

Food shops experienced the biggest monthly decline in sales since November last year, while clothing and footwear demand was lower by 2.3 per cent on the month.

The British Retail Consortium claims companies will be pinning their hopes on the festive season for some good news.

Director-general Stephen Robertson commented: "With Christmas fast approaching, retailers will be hoping that the festive feel-good factor translates into a much stronger showing next time."

At 16:30 GMT, the FTSE 100 was lower by 0.7 per cent to an index value of 5679.4 points, sliding by 42.5 points.

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