London stocks closed lower on Monday as investors digested the latest economic data and company news. The FTSE 100 ended the day down 0.4% at 8,237 points, but still managed to finish the week with a gain of just over 1%. Retail sales in the UK for May rose 2.9% month on month, surpassing market expectations of 1.8%. This positive data reflects a strong recovery in consumer spending and confidence. Consumer confidence also increased for the third consecutive month to the highest level in two and a half years. [08158ab5]
In company news, Britvic shares surged around 10% after rejecting a £3 billion takeover offer from Carlsberg. The soft drinks company believes that the offer undervalues its potential and growth prospects. On the other hand, Palantir shares slid after a recommendation to sell by analysts at Monness, Crespi, Hardt & Co. The data analytics company has been facing increased scrutiny and regulatory challenges, which has impacted investor sentiment. [08158ab5]
In the cryptocurrency market, Bitcoin fell 2% today, continuing its retreat over the past month. The volatility and uncertainty surrounding cryptocurrencies have led to a cautious approach from investors.
In the technology sector, SoftBank's founder, Masayoshi Son, expressed plans to bring about an era of artificial super-intelligence. Son believes that artificial intelligence will revolutionize various industries and create new opportunities for growth and innovation.
Meanwhile, Amazon is considering charging customers between $5-10 per month for new features on its Alexa service. The e-commerce giant is exploring ways to monetize its popular voice assistant and expand its revenue streams. [08158ab5]