Even after Julian Dunkerton, the chief executive of Supergroup, stated he was going to ramp up expansion across Europe, the US and Asia – and not forgetting his UK empire – the share price still hasn’t climbed up to the highs seen earlier this year. So eyes will be drawn to the company’s trading statement on Wednesday, and hopefully (for both investors and Dunkerton), the performance will start to match that of its peer Asos. After the crashing fall in the share price earlier this year, analysts are certainly flagging the upside potential held by the stock. Trading around the 1,000p mark, some see it as cheap but with discretionary spend still flagging in many territories the exact details of the statement will need to be closely followed. IG Index quotes Supergroup at 983p-993p.
The FTSE 100 has had a decent bounce from its most recent lows, following the sharp declines from its highs that commenced in August. But just as the index did two weeks ago, it has failed to head above and beyond resistance at the 5,400 level. This is a crucial near-term barrier for the index and a move above it could open up a move to 5,550. Capital Spreads quotes 5,305.0p-5,306.0p for the UK 100 index.