FTSE 100 flat, FTSE 250 off 0.2

Jan 3 Reuters London39;s FTSE 100 changed little on Friday, after hitting an overtwoweek high hit in the previous session, as heavyweight energy shares limited broader declines.

The bluechip FTSE 100 was marginally down, while the midcap FTSE 250 fell 0.2. Both indexes are, however, set for their second straight week of gains.

Most major sectors traded in the red with industrial metal miners dropping 1.1 to the bottom of the sectoral charts, as a stronger dollar dented prices of most base metals.

On the bright side, energy shares were up 1 as oil prices steadied at their twomonth high touched on Thursday.

Trading volumes were thin in the week shortened by Wednesday39;s New Year holiday.

Data from the British Retail Consortium showed the number of people visiting shops last year fell by 2.2, the biggest drop since 2021. Footfall during the final quarter, which includes the holiday shopping season, also dropped compared with 2023.

It looks set to be a highly challenging year ahead for retailers who will be faced with the double whammy of shoppers focused on getting value for money, while their own costs rise due to the increase in taxes, said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

Some uncertainty prevailed as investors gauge the potential inflationary impact of UK Finance Minister Rachel Reeves39; October budget, which could affect the Bank of England39;s existing gradual approach to monetary policy…