A worker takes shelter from the rain under a Union flag umbrella as he walks past the London Stock Exchange, London, Britain October 1, 2008. REUTERS / Toby Melville / File Photo

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  • UK retail sales rise 0.8% in October
  • Travel values ​​weigh on mid caps
  • Ryanair slips on plans to drop London listing
  • FTSE 100 up 0.4%, FTSE 250 down 0.1%

Nov. 19 (Reuters) – London’s FTSE 100 rose on Friday after a three-day drop, driven by commodity stocks and better-than-expected retail data that helped allay concerns about the economic slowdown.

Blue chips FTSE 100 (.FTSE) gained 0.4% in morning trading, with miners BHP Group (BHPB.L), Rio Tinto (RIO.L), Glencore (GLEN.L) and Anglo American (AAL) L) among the top rises, as metal prices surged on fears of a tight supply in China after a smelter halted production following a blast.

Oil stocks (.FTNMX601010) rose 0.5% after wild swings Thursday, as investors looked past the possible release of reserves by the world’s major economies.

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Data showed auction houses and shoppers looking for new clothes for the Christmas holidays increased UK retail sales in October more than expected, adding to recent signs that an economic slowdown might have eased slightly. Read more

Retailers like WH Smith PLC (SMWH.L) and Ocado Group (OCDO.L) rose 1.4% and 6.4% respectively.

“People are putting forward the purchases they would have made in November and December. Consumers are very cautious due to the uncertainty surrounding the economy, high inflation, squeezing household incomes, squeezing prices. disposable income and higher taxes, ”said Craig Erlam, analyst at Oanda. .

“We shouldn’t get carried away by today’s retail sales numbers because that doesn’t indicate a big rebound ahead driven by consumers.”

The recovery of the UK FTSE 100 has been much slower than among its European peers, adding only 12.3% this year compared to the 22.7% increase of the pan-European STOXX 600 (.STOXX).

The domestically focused mid-cap index (.FTMC) fell 0.1%, with travel stocks EasyJet (EZJ.L) and Wizz Air (WIZZ.L) among the worst performers after Credit Suisse cut EasyJet’s target price amid concerns over rising COVID-19 infection rates in Europe.

Home improvement retailer Kingfisher (KGF.L) fell 5% after reporting a 2.4% drop in like-for-like sales in the three months to October 31. read more

Ryanair slipped 0.9% after announcing its intention to withdraw from the London Stock Exchange next month, citing the costs of maintaining an additional listing. Read more

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FTSE 250 gained 14.8% this year, FTSE 100 gained 12.3% YTD

Reporting by Bansari Mayur Kamdar in Bangalore; Editing by Subhranshu Sahu and Shailesh Kuber

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