FTSE 100 close: China reopening boosts Antofagasta and London miners January 9, 2023 London’s FTSE 100 has today extended its robust start to the new year, fuelled by mining giants clinching gains on investors betting commodity prices are on the rise as China dismantles pretty much all of its Covid-19 restrictions. The capital’s premier index jumped 0.33 per cent to close at 7,724.93 points on the opening day [...]
Mike Ashley’s Frasers Group reduces stake in Hugo Boss as shares dip January 6, 2023 Mike Ashley’s Frasers Group, the owner of brands such as Sports Direct and House of Fraser, has reduced its stake in Hugo Boss after previously upping its investment into the luxury fashion house. Frasers Group said it now owns 3.9 per cent of Hugo Boss’s total share capital, a decline from the 4.3 per cent [...]
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]
Profit surge for Zara owner Inditex despite shoppers’ fears of inflation December 14, 2022 Zara owner Inditex has seen sales and profit boosted, against a backdrop of a torrid consumer environment for fashion firms. The Spanish fashion giant posted a 24 per cent jump in net profit in the first nine months of its financial year, despite what CEO Óscar García Maceiras described as a “challenging context.” Sales online [...]
Asos interim chief financial officer steps down December 2, 2022 Asos is set to continue its search for a new finance boss, after its interim chief financial officer (CFO) announced her exit today. Katy Mecklenburgh, who will leave the online retailer in around six months, is set to join London-listed IT group Softcat in 2023. The outgoing interim chief had only held the role since [...]
FTSE 100 hoisted by investors pouring into retailers ahead of Black Friday November 24, 2022 London’s FTSE 100 was bumped higher today by investors heading into retailers ahead of Black Friday today. The capital’s premier index inched 0.02 per cent higher to close at 7,466.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more responsive to the health of the UK economy, jumped 0.2 per cent to 19,540.34 [...]
Black Friday will have a black mark to its name if it ignores the climate question November 24, 2022 If you are walking past a colleague’s desk tomorrow, and their screen is full, not of the task due yesterday, but of Black Friday sales, they are one of the 76 per cent of customers hunting for discount deals. For some, the day of mega sales can be traced back to a Wall Street stock [...]
Online sales tax gets canned for its ‘complexity’ November 17, 2022 Jeremy Hunt has scrapped the online sales tax, moving away from plans to better support the high street. Following a consultation, the Chancellor decided to dump the tax, reflecting the concerns about the complexity of the move, as well as “creating unintended distortion or unfair outcomes between different business models”. The levy was designed to [...]
Awful day for Ocado drags FTSE 100 into the red November 15, 2022 London’s FTSE 100 today was dragged down by investors souring on middle-class favourite and online supermarket Ocado. The capital’s premier index fell 0.21 per cent to 7,369.44 points, while the domestically-focused mid-cap FTSE 250 index dropped 0.85 per cent to 19,455.88 points. Ocado’s shares plummeted to the bottom of the FTSE 100 today, taking the [...]
Mike Ashley’s Frasers in late stage talks for Gieves & Hawkes takeover November 14, 2022 Frasers Group is reportedly in late stage talks to seal a deal for Gieves & Hawkes, a beleaguered tailor which previously dressed Sir Winston Churchill and Queen Elizabeth II. Mike Ashley’s empire is swooping in for the Savile Row retailer after its Hong Kong-based owner fell into administration, Sky News first reported. The popularity of [...]