London stocks opened lower on Friday after UK retail sales data showed a modest rebound in June but missed expectations, damping investor sentiment.
The FTSE 100 slipped 0.4% to 9,103.93, while the FTSE 250 dropped 0.4% to 22,074.42. The AIM All-Share edged down 0.1% to 776.08.
UK retail sales volumes rose 0.9% in June, recovering from a sharp 2.8% drop in May, according to the Office for National Statistics. The May figure was revised lower from an initial 2.7% fall. Despite the month-on-month bounce, sales lagged the 1.2% growth forecast by analysts.
Over the past year, sales volumes were up 1.7%, and rose 0.2% over the three months to June. The ONS noted June was England’s warmest on record, with the weather helping to lift footfall and consumer spending, but not enough to fully offset broader headwinds.
In equities, Mirriad Advertising surged 19% after striking a two-year deal with MBC Media Solutions to provide in-video advertising for its streaming and linear platforms. The deal is expected to generate around £370,000 in annual revenue.
Mirriad reported £200,000 in revenue for the first half of 2025, down from £390,000 a year earlier, reflecting weaker overall trading despite regional growth.
Mitchells & Butlers climbed 1.9% as the pub and restaurant group reported like-for-like sales growth of 4.5% for the year to date, boosted by strong 5.0% growth in the third quarter.
Both food and drink categories saw nearly 5% gains. CEO Phil Urban said the group remains focused on driving efficiencies and growing market share through capital investment and brand strength.
At the bottom of the market, Marshalls tumbled 20% after cutting its full-year profit forecast. The landscaping materials supplier warned of softer demand in key markets from late May and said it sees no clear catalyst for a recovery in 2025.
Marshalls now expects adjusted pretax profit between £42 million and £46 million, down from £52.2 million in 2024, as volume gains were offset by weaker pricing and product mix.