BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks edged lower on Friday as a strong pound weighed on exporters.
The pound rallied against the euro as retail sales data beat expectations and activity in the U.K.'s private sector grew at its sharpest pace since 2013 in August, alleviating some concerns over an extended economic slowdown.
U.K. retail sales grew 3.6 percent month-on-month in July, driven by non-food store turnover, official data showed. That was slower than the sharp 13.9 percent rise in June and 12.2 percent increase in May, but beat forecasts for a 2 percent gain.
The composite purchasing managers' index (PMI) reading from IHS Markit's closely watched survey came in at 60.3, beating forecasts and above July's figure of 57.
The benchmark FTSE 100 was down 5 points at 6,008 after tumbling 1.6 percent on Thursday.
Pharmaceutical giant AstraZeneca eased 0.6 percent while consumer goods company Unilever was marginally lower.
Retailers were moving higher, with Marks & Spencer rising 1.4 percent and Morrison gaining half a percent.
HG Capital surged 4 percent on news it will invest in Visma alongside other institutional clients.
Copyright RTT News/dpa-AFX