Retailers' share prices are on the up as markets recover slightly

Helen Cahill
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The markets are getting their breath back after a tough two days of trading (Source: Getty)

Shares in retailers including Next, M&S and Associated British Food were on an upward trend this morning as stock markets recorded their first gains since the UK voted to leave the European Union.

In morning trading, M&S' share price was up 5.10 per cent, Next's rose 8.40 per cent and Associated British Foods' shares climbed 7.23 per cent.

Tesco's share price was up 3.50 per cent, Sainsbury's was up by 4.30 per cent and Morrisons' rose 2.12 per cent.

The rises come after two days of record-breaking falls and trading suspensions, with housebuilders suffering substantial losses. Several builders broke the London Stock Exchange's circuit breaker after falling by more than eight per cent at the open yesterday.

This morning, however, the FTSE 100 rose by two per cent at the open to 6,099. Persimmon lead the index's risers, up 6.7 per cent, followed by Consolidated Airlines Group, up 4.45 per cent, and EasyJet, up 5.20 per cent.

Not all retailers were on the up; Carpetright tumbled by a fifth in morning trading after the company said it is being cautious about the prospect of consumer confidence dipping in the coming months.