14th December 2011
An ongoing trend this week appears to be a downturn for the FTSE 100, after the index posted a further 0.5 per cent loss in trading this afternoon (December 14th).
Reuters reports the UK's premier index declined by 28.48 points (0.5 per cent) in trading so far today, giving up most of its gains in the close of trading on Tuesday.
The news came following data showing UK retail spending at major chains has dipped as a result of the ongoing sense of austerity across the country.
JP Morgan issued this statement to its investors: "This year the combination of a weakening consumer, unseasonal weather, heavy promotional activity, weak footfall and what we view as still too-high estimates is causing us more concern."
On Monday, the FTSE 100 also dipped after investor sentiment soured regarding the recent EU summit deal, which was vetoed by the prime minister and subsequently the UK was not a part of, although this failed to boost the UK finance sector.
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