UK stocks dip on Middle-East woes, set for weekly declines

British stocks opened lower on Friday due to caution over the escalating tensions in the Middle East, while domestic retail data showed sales stagnated in March. The globally-focussed FTSE 100 fell 0.4% by 0714 GMT, set for its biggest weekly decline in three months. The mid-cap FTSE 250 lost 0.6%, poised for a third consecutive week of declines. Nearly all sub-indexes traded in the red.

British stocks opened lower on Friday due to caution over the escalating tensions in the Middle East, while domestic retail data showed sales stagnated in March.

The globally-focussed FTSE 100 fell 0.4% by 0714 GMT, set for its biggest weekly decline in three months. The mid-cap FTSE 250 lost 0.6%, poised for a third consecutive week of declines.

Nearly all sub-indexes traded in the red. Travel and leisure stocks leading the declines, falling 1.2% as airlines scrambled to divert flights over Iran as tensions in the Middle East escalated.

Meanwhile, data showed UK retail sales stagnated in March, indicating cautious consumer spending. 888 gained 2.8% after the bookmaker reported first-quarter revenue slightly ahead of its expectations, helped by strong customer volumes and expects revenue to return to growth from the second quarter.