Central London footfall collapses in run-up to Christmas as strikes hit December 25, 2022 Christmas Eve footfall in central London was almost 15 per cent down on the week before as rail strikes effectively wiped out last-minute shopping plans. December 24 is usually a bumper day for retailers as Londoners rush to pick up last-minute gifts before getting trains home, whilst Brits also flock into the capital for a [...]
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 [...]
Made.com board proposes formal liquidation of collapsed furniture firm December 22, 2022 Shareholders of Made.com have been encouraged to back a board proposal to formally wind down the furniture firm through a member’s voluntary liquidation. In an update to the London Stock Exchange, the collapsed homeware firm said this would allow liquidators to realise its remaining assets pending completion of its administration. It would also allow the [...]
FTSE 100’s winners and losers in 2022 December 19, 2022 The Christmas lull is setting in. Investors are bracing to turn off their screens and get away from the daily City grind. Trading volumes on the FTSE 100 are thinning. It’s also that time of year when financial journalists pick through the UK’s worst (and best) performing stocks over the past 12 months. Without further [...]
City eyes final economic data before Christmas shut down December 18, 2022 Although investors will be readying to get away over the Christmas break, there are a few economic data sets to get through before the City shuts down. Last week, London’s FTSE 100 index slumped nearly two per cent to close at 7,332.12 points as traders were bombarded by a barrage of global economic news. FTSE [...]
Liz Truss, Bill Hwang and Elon Musk: The 2022 awards you don’t want to win December 18, 2022 We started the year with Boris Johnson in Downing Street and optimism for a Covid-19 rebound. It didn’t quite turn out that way – and here’s our pick of the best of the best (or worst of the worst) of 2022… THE MUM OF THE YEAR AWARD This year hasn’t been smooth sailing for e-commerce retail [...]
Currys slashes profit forecast as boss warns ‘tough environment’ isn’t going anywhere December 15, 2022 Currys has booked a loss as its chief executive warned that a “tough environment” showed little signs of disappearing in the short-term. The laptop-seller slashed its full year outlook from an initial target range of £130m to £150m to a lower target of £100m to £125m. It posted a group adjusted loss of £17m for [...]
Watches of Switzerland backs full-year guidance as luxury demand still buoyant December 14, 2022 Watches of Switzerland has said it is sticking to its full-year guidance for 2023 as there continues to be strong demand for luxury watches. In half-year results, the London-listed retailer said revenue from luxury watches made up 87 per cent of group revenue, with sales growth of 31 per cent versus the previous year. Group [...]
Conviction Life Science pushes back IPO deadline as winter investment freezes December 13, 2022 Investment manager Conviction Life Science has pushed back the funding deadline for its London float into the new year, as investors hibernate for the Christmas period. The soon-to-be listed fund said it wanted to extend its book-building period after seeing many large professional investors close their books and shelve new potential investments until the new [...]
Bank of England ramps up CBDC ambitions after offering £200,000 wallet contract to bidders December 12, 2022 The Bank of England has underlined its desire to pursue a CBDC by putting a contract for a sample wallet out to tender.