FTSE 100 unchanged as high streets pin hopes on Christmas

<p>The FTSE 100 has not moved this afternoon, as retailers hang their hopes on the Christmas rush.</p>

The FTSE 100 is steady in trading this afternoon (December 4th) as the UK high street pins its hopes on the Christmas rush to make up for the fact 2012 has been a challenging year.

According to the British Chambers of Commerce (BCC), the BCC-KPMG Retail Sales Monitor for November 2012 shows retail sales values were up by 0.4 per cent on a like-for-like basis from November 2011, when they were 1.6 per cent lower than the preceding year.

Online sales advanced by 7.5 per cent against November of last year, showing no material pick-up from October, while food declined in real terms on a three-month basis.

BCC director-general Stephen Robertson said: "With consumers conscious that there will be a full shopping weekend immediately before Christmas, retailers are holding their nerve and counting on a last minute rush."

At 16:40 GMT, the FTSE 100 was unmoved, sliding marginally by 1.1 points to an index value of 5870.1 points.

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