Editor’s notes: Why did people vote Leave? Clue: It wasn’t because they’re unhappy January 27, 2017 The referendum result left a lot of people stunned and confused. Not just because a Leave vote was contrary to the predictions of pollsters and pundits, but because they couldn’t understand why anybody would want to leave the EU in the first place. In the days and weeks after the vote, the very same people who [...]
Sterling pushed higher by dollar weakness as Donald Trump fails to reassure investors January 23, 2017 The pound has risen to a one-month high against the dollar as traders failed to be reassured by US President Donald Trump’s inauguration speech. On Monday he pulled the US out of the major Trans-Pacific Partnership (TPP) trade deal with multiple Pacific-rim countries. The pound rose by almost one per cent in intraday trading on Monday. [...]
BP given thunderous boost by delivering project 11 months early and under budget January 23, 2017 BP reported good news from the Gulf of Mexico, revealing plans to turn on the taps of a major project 11 months ahead of schedule and $150m (£120m) under budget. The oil giant said production had started at its Thunder Horse project, which will boost supply from the area by 50,000 barrels per day. Read more: Egypt nets $220m [...]
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 [...]
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 [...]
Sainsbury’s shares surged this morning on news of sales growth over Christmas – here’s how retail experts reacted January 11, 2017 Sainsbury's shares have surged by six per cent this morning after it reported a record Christmas week for trading. The supermarket said like-for-like retail sales went up 0.1 per cent in the third quarter, and while this might not be as impressive as Morrisons' 2.9 per cent growth, reported yesterday, investors were still cheered by the update. [...]
Sainsbury’s reports £1bn group sales over Christmas week as sales edge up January 11, 2017 Sainsbury’s enjoyed a record Christmas week with over £1bn in sales across the group, with quarterly sales managing to edge up after analysts expected further contraction. The figures Like-for-like retail sales excluding fuel grew by 0.1 per cent over the third quarter of its trading year, and total retail sales grew by 0.8 per cent [...]
Supermarkets are leading the FTSE 100 after Morrisons’ stellar results January 10, 2017 Supermarkets are leading the FTSE 100 risers today after positive data on the sector's sales over Christmas – and a strong update from Morrisons. Morrisons' share price was up 3.64 per cent at time of writing after the Bradford-based grocer reported a 2.9 per cent jump in like-for-like sales for the nine weeks to 1 [...]
Morrisons reported strong Christmas trading numbers this morning – here are the best reactions January 10, 2017 Morrisons is having a lovely morning, with shares up four per cent on news that the supermarket's sales growth over the Christmas period was at its strongest for seven years. The group reported a 2.9 per cent jump in like-for-like sales excluding fuel, and said Morrisons.com had achieved its biggest ever week for sales in [...]
Supermarkets had a record Christmas – but prices are rising January 10, 2017 Supermarkets had a record Christmas period in 2016, with sales growing at their fastest rate since June 2014, but prices are finally starting to rise following the Brexit vote. The latest figures from Kantar Woldpanel show that sales were up 1.8 per cent for the 12 weeks ending 1 January. Consumers spent nearly half a billion pounds [...]