BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were flat to slightly higher on Tuesday after retail sales logged another strong growth in February on higher demand for furniture and home accessories and clothing and footwear.
Like-for-like sales increased 2.7 percent on a yearly basis in February as restrictions were lifted, data from the British Retail Consortium and KPMG showed. At the same time, overall retail sales grew 6.7 percent.
'The future is looking increasingly uncertain, with current demand unlikely to be sustained,' Helen Dickinson, chief executive at BRC, said.
The benchmark FTSE 100 edged up 10 points, or 0.1 percent, to 6,969 after ending 0.4 percent lower the previous day.
M&G shares soared 11.6 percent as the investment manager announced a £500mln share buyback program.
Unite Students advanced 1.4 percent. The owner, manager and developer of student accommodation has sold a portfolio of 11 properties, comprising 4,488 beds for £306m to an affiliate of Lone Star Funds.
Geotechnical specialist contractor Keller added 2.7 percent after posting a rise in 2021 pretax profit.
British Land rose 2.2 percent after the real estate investment trust announced a new joint venture with Melbourne-based pension fund AustralianSuper.
IWG jumped nearly 13 percent. After posting improved annual results, the flexible workspace provider announced the merger of its digital assets with The Instant Group.
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