Good morning: So much for Christmas cheer. Consumer confidence is at a five-year low according to a closely watched survey from GFK. The consumer confidence index dropped to minus 14 in December, down one point to its lowest level since July 2013. There is little sign of any Christmas cheer in the markets either. So much for the Santa rally, which has lifted the FTSE 100 index in 78 per cent of all years since 1984.

Source: The Times December 21, 2018 09:08 UTC