FTSE ends flat on Friday

FTSE ends flat on Friday

The FTSE 100 is set to close the day having made modest gains across the week. Today’s trading is flat in percentage terms as investors react to retail sales data showing rising prices are biting into consumers’ purchasing enthusiasm.

Brent crude has fallen by 8 US cents to US$55.57 per barrel in this morning’s trading as investors are awaiting news signs that the oil market is being balance by OPEC cuts.

Iraq appears to be betting on the oil market to boost its economic prospects with a plan announced to acquire a “large fleet” of oil tankers to transport the OPEC nation’s crude to global markets, Oil Minister Jabar al-Luaibi said in a statement on Friday.

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