Retail stocks lead rally to end week stronger

RETAIL stocks grabbed the headlines again yesterday as the FTSE 100 Index managed to end a week-long losing streak.

The Footsie closed 9.2 points stronger at 3934 after enjoying a late rally on the back of a stronger-than-expected start to trading on Wall Street.

But most interest was focused on the retail sector and the surprise decision by supermarket group Morrison’s to buy Safeway in a €4.5bn deal.