Not hampered: Fortnum & Mason posts record Christmas results January 13, 2017 Fortnum & Mason enjoyed a record festive period, as customers flocked to high-end Christmas gifts, including the retailer’s signature hampers. The figures Like-for-like sales up to 1 January increased by 16 per cent on the previous year, driven by a 22 per cent increase in online sales for the year. Indeed, Fortnum’s online trading contributed [...]
Nintendo share price falls as new Switch console seen as too expensive January 13, 2017 Nintendo has announced the date and price of its new Switch console, its latest attempt to replicate the success of its Wii device a decade ago. The Switch will be available on 3 March, and will cost £279.99 in the UK. Nintendo shares fell more than five per cent on the news, as analysts baulked [...]
Eurozone industrial production surge gives surprise growth picture January 12, 2017 Industrial production has surged in the Eurozone, setting the scene for an increase in growth in the region. Eurozone industrial production rose to 1.5 per cent in November, up from a meagre 0.1 per cent in October, according to the European Commission. While industrial production figures can be volatile, the acceleration in industrial growth will [...]
Significant rise in inflation amid a firming recovery predicted by European Central Bank January 12, 2017 Europe's economy is recovering "at a moderate but firming pace" but headline inflation will rise "significantly" in the coming months, according to the monetary policymakers at the European Central Bank (ECB). The ECB also said Brexit uncertainty and the election of Donald Trump presented risks to the EU economy, while "political uncertainty remained high". In minutes from [...]
Rising sterling pushes down FTSE on big day of results for retailers January 12, 2017 A strengthening pound pushed the FTSE 100 slightly down from its record opening level amid a slew of results from major retailers. The pound rose as high as $1.2317 against the US dollar as greenback continued its retreat from 14-year highs. Sterling was broadly flat against the euro in morning trading. The FTSE was broadly [...]
Gold above $1,200 for the first time since November as Trump economic policy vacuum pulls investors away from equities January 12, 2017 Gold prices continued their rally from mid-December lows as investors edged back from the Donald Trump reflation story. Gold futures prices broke the $1,200 per troy ounce mark for the first time since late November, as the US dollar hit its lowest point for almost a month. Gold usually moves in the opposite direction to [...]
AO World share price falls as investors focus on economic storm clouds on horizon despite increase in revenue January 12, 2017 AO World has reported increased sales in the UK as its European revenue grew strongly, but shares fell sharply as it warned of bumpy economic conditions to come. The figures UK ao.com revenues grew by 10.3 per cent year on year. Overall UK revenue increased by a slightly smaller 8.9 per cent, reflecting legacy logistics and [...]
Tesco share price falls despite sales rise in third trading quarter as investors focus on weaker Christmas trading January 12, 2017 Tesco's share price fell despite the supermarket giant reporting its first quarterly market share growth since 2011, as sales grew for the eighth quarter in a row. The figures Group like-for-like sales grew 1.5 per cent in its third trading quarter, with UK like-for-like sales growing even faster, at 1.8 per cent. The supermarket said it [...]
US intelligence services deny leaking explosive Trump dossier of personal allegations January 12, 2017 The head of the US intelligence services has hit back at US President-elect Donald Trump over claims his department leaked an explosive dossier of claims. James Clapper, director of national intelligence, denied claims that Trump had tweeted that the document had been leaked by one of the organisations under his control. Clapper said: I emphasized [...]
More sterling weakness pushes FTSE 100 above 7,300 for first time ever as it approaches all-time record run January 11, 2017 The pound dropped to its lowest since the October flash crash as the FTSE 100 closed in on its longest winning run since the index started 33 years ago. The pound fell as low as $1.2052 in mid-afternoon trading, pushing the FTSE 100 over 7,300 for the first time. London’s blue chip index has increased for 11 [...]
