FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
Yule be happy: Christmas trading powers Primark owner’s rising revenues January 24, 2023 Food processing giant and Primark owner Associated British Foods has posted a bullish trading update, unveiling an upturn in revenues.
Marston’s bucks hospitality trend as historic pub chain reports bumper festive period January 24, 2023 Pub and hotel operator Marston’s has reported bumper sales over the Christmas period as Brits treated a pint as an “affordable treat”. The historic London-listed firm, founded in 1834, said like-for-like sales were up 12.9 per cent on Omicron-affected 2022, for the 16 weeks to 21 January. Marston’s has however experienced difficulties in this time [...]
Avatar’s success gives boost to struggling cinemas but future is still uncertain January 23, 2023 The highly anticipated Avatar sequel has ranked as the sixth-highest grossing movie ever, giving cinemas a much needed boost, although some analysts warn they are not yet in the clear. After six weeks on the big screens, “Avatar: The Way of Water” surpassed a staggering £1.6bn ($2bn) in box office sales on Sunday, Disney estimates. [...]
Slow fashion: Retailers embrace second-hand clothing to draw in thrifty eco-conscious fashion lovers January 23, 2023 High street retailers are following in the footsteps of their online rivals, offering more second-hand clothes to lure in shoppers wanting to steer clear of fast fashion and hunt for bargains amid a cost of living crisis. The second-hand clothing market has exploded over the last decade to an estimated £6.5bn last year, largely thanks [...]
FTSE 100 close: Blue chip index ends higher as disappointing retail sales figures fail to dent JD Sports, Frasers and Burberry January 20, 2023 London’s FTSE 100 index closed the week marginally higher, clawing back some some of this year’s earlier gains following a poor performance yesterday. The capital’s premier index climbed 0.3 per cent to 7,770.59 points, while the domestically-focused mid-cap FTSE 250 index rose 0.7 per cent to close at 19,702.63. JD Sports, Frasers and Burberry were [...]
Markets Wrap January 20, 2023 Another eventful week of trading comes to a close, and we end the week quite differently to how we started it. Last week we saw solid upside in stocks with no real fundamental driver, as banks kicked off the Q4 earnings season and the US posted a relatively strong Michigan consumer sentiment figure. The theme [...]
Retailers blame Royal Mail strikes for Brits abandoning online shopping in the run up to Christmas January 20, 2023 Thousands of Brits appear to have abandoned online purchases following a series of strikes by Royal Mail employees, according to figures from the Office for National Statistics. Figures released by the ONS show that the proportion of online sales slipped by 0.5 per cent to 25.4 per cent in December. Retailers laid the blame on [...]
Dunelm sales rise as shoppers buy heaters and thick duvets January 19, 2023 Homeware and furnishings retailer Dunelm has revealed a jump in sales for the past quarter as shoppers bought heaters and thick duvets to offset the rocketing cost of heating their homes. The Leicestershire-based retailer said annual profits are set to beat market expectations following a strong Christmas period. Total sales increased by 18 per cent [...]
Boohoo shares slide after PrettyLittleThing owner admits consumer squeeze has hit profits January 19, 2023 Online fashion retailer Boohoo expects full year revenue to be below market expectations as it continues to suffer from the squeeze on consumer spending. The company anticipates revenue will fall by 12 per cent over the financial year ending 28 February, after it reported a fall in revenue in a trading update released this morning. [...]