Scoreboard: Retail splurge

Global stocks rose from their recent rut after US retail sales recorded their biggest gain in 18 months and Citigroup posted strong earnings.

Some positive earnings data (Citigroup ) and the strongest lift in US retail sales since September 2012 shook the market out of its rut last night, pushing stocks on both side of the Atlantic higher. US consumers hit the shops in March, and spending surged 1.1 per cent. It was a particularly positive result as the gain follows a 0.7 per cent lift the month prior. Excluding volatile items (petrol and cars), sales rose 1 per cent -- well above the consensus expectation for a 0.4 per cent gain.


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