FTSE 100 Unchanged as UK Retail Sales Lower, FCA Opens Investigation into WH Smith

The FTSE 100 was flat on Friday as investors digested weaker-than-expected UK retail sales data and company-specific developments.

Elsewhere in Europe, the DAX rose 0.2% and the CAC 40 gained 0.1%, while the pan-European Stoxx 600 edged up 0.1%.

Retail sales figures showed an unexpected decline in November, suggesting Black Friday promotions failed to lift spending as much as in recent years.

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The Office for National Statistics said sales volumes fell 0.1% over the month, following a 0.9% drop in October. The consensus expectation was for growth of 0.4%, underscoring ongoing pressure on consumer demand.

WH Smith was in focus after the retailer confirmed that the Financial Conduct Authority has opened an investigation following the company’s disclosure of accounting errors in its US business.

The probe relates to compliance with UK listing rules. WH Smith also said it is seeking to recover overpaid bonuses from former executive directors linked to the restatement of profits for the 2023 and 2024 financial years.

Among FTSE 100 movers, DCC led the gainers with a 2.2% rise, followed by Rolls-Royce, up 1.2%, and Spirax Group, which added 1.1%.

In contrast, housebuilders came under pressure, with Barratt Redrow down 2.4%, Persimmon off 1.9% and Berkeley Group lower by 1.8%.