FTSE 100 continues rally as markets boosted by relaxing of China’s Covid measures May 30, 2022 London’s FTSE 100 hit its highest level in a month, buoyant by 0.4 per cent, as the relaxing of Covid restrictions in China boosts confidence across international markets. The capital’s premier FTSE 100 index climbed to 7615.82, having closed at 7,585.46 on Friday. British Airways owner International Airlines Group led the charge with a three [...]
JD Sports attempts to calm investors about Cowgill exit as shares slump May 27, 2022 JD Sports made attempts to reassure investors yesterday after red flags were raised by the sudden departure of Peter Cowgill.
The City View: Victoria Scholar on Sunak’s windfall tax and Cowgill exit May 26, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak’s unveiling of a windfall tax today, the Fed’s plans to hike rates by 50 basis points in June and July, Elon Musk’s painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill’s shock departure [...]
JD Sports’ chair steps down after City watchdog fine for covert car park meeting May 25, 2022 JD Sports’ executive chairman Peter Cowgill is to step down from his role with immediate effect, the sportswear brand has announced. The London-listed retailer said it had opted to accelerate a separation of the roles of chair and chief executive. Cowgill’s departure follows JD Sports and its rival Footasylum being slapped with fine worth almost [...]
The City View: Subpar UK economic figures, and more rate hikes to come May 12, 2022 Today Andy Silvester talks to City A.M.’s Economics and Markets reporter Jack Barnett. They go through the gloomy economic figures released by the ONS this morning measuring the economy’s performance, and explain what this will mean for rate hikes going forward. And in the news: BT has confirmed a joint sports venture with Warner Bros [...]
JD Sports sales go up but group remains aware of headwinds May 12, 2022 Sports retailer JD Sports has announced an increase in sales but said it remained aware of market volatility and possible headwinds looming ahead. In the first 14 weeks ended 7 May, JD Sports’ revenues went up 5 per cent on the same period last year, as the group was left almost unscathed by a shortfall [...]
Steeper US Fed rate hike sends investors wobbling May 4, 2022 The prospect of the world’s most influential central bank hiking interest rates by double the amount it normally does weighed on London’s top indexes today. The capital’s premier FTSE 100 index dropped 0.9 per cent to 7,493.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Week ahead: Bumper week of economic data to jolt the City April 10, 2022 The City will be eyeing a raft of flagship economic announcements this week that will send ripples throughout London’s top indexes. The capital’s premier FTSE 100 index registered a strong week last week, gaining 1.75 per cent. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, shrank [...]
Retailer sell off drags down London indexes April 6, 2022 A retailer sell off caused by concerns over a pull back in spending amid a tight cost of living squeeze led London’s top indexes lower today. The capital’s premier FTSE 100 index dropped 0.34 per cent to 7,587.70 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK [...]
Raising a toast: Beer sales return to pre-pandemic glory as pub goers ditch wine and spirits April 4, 2022 Beer sales have brewed a comeback with 1.1bn more pints sold last year than in 2020. Some 4.6bn litres of beer was sold in 2021, up 13 per cent on 2020. Lockdown drinkers opted for spirits, causing beer sales to plummet, but pints regained popularity when pubs reopened. Wine and spirits saw a drop of [...]