FTSE 100 Slips as UK Retail Sales Fall 0.4% in September

The FTSE 100 opened slightly lower on Friday after UK retail sales fell 0.4% in September, significantly worse than the expected 0.1% dip, raising concerns about consumer spending ahead of the Christmas period. The decline follows a report showing consumer confidence dropped sharply this month, adding new factors for the Bank of England to consider on interest rates. Oil majors Shell and BP rose on stronger crude prices, while tech-related stocks like Sage and Computacenter drifted lower. The tech-heavy Nasdaq fell sharply as investors worried about AI spending, with Meta Platforms dropping 7% and Nvidia falling 4% on capital expenditure concerns. The oil price surged to over $114 per barrel on reports of potential US military strikes on Iran, while Treasury yields fell as investors sought safe havens.