London Stocks Falter Amidst Global Economic Ambiguity

London stocks concluded the week on a somber note as investors showed disappointment after China's lack of specific economic measures. Sainsbury's significant drop also impacted the FTSE 100, which saw a weekly decline. Despite slight economic growth in August, concerns remain about the pace of recovery.

London's stock market ended the week with a lackluster performance as investors grappled with China's omission of specific economic policies. This perceived inaction led to broader market uncertainty and directly impacted key indices.

The FTSE 100 closed 0.2% higher on Friday, yet fell 0.3% over the week. Midcap index FTSE 250 recorded a 1% decline. Industrial metal miners, in particular, suffered a 3.5% weekly loss following decreasing base metal prices, owing largely to the anticipation of Chinese fiscal inputs that never materialized.

Sainsbury's shed 5.9% of its value, leading the list of decliners, triggered by the Qatar Investment Authority's plan to sell a substantial share stake. Additionally, British Petroleum warned of a $600 million dent to its quarterly profit due to weak refining margins.

(With inputs from agencies.)