British favourite Marks and Spencer has had a good run so far this year, rallying some 25 per cent before giving some of that back in the recent correction by stock markets. Today’s results will be keenly watched to see just how well its clothing sales have held up where they could benefit from the warm and dry weather throughout most of March. Capital Spreads quotes 370.5p-371.2p.
Home Retail Group has been creeping higher since hitting those lows of 70p in November, reaching 125p three weeks ago. Since then it has slipped along with the FTSE back towards 103p, where there is good support. There is more support just below at 100p from the round number and also the 100-day simple moving average. Look to buy with a stop loss around 94p for a run through the 110p area and up to 130p. Spread Co quotes Home Retail Group at 103.85p-104.31p.
Those anticipating the trading statement from Burberry today will check for a change in strategy from the British luxury label. Having seen its brand tarnished by imitation and by Katie Price, it has been looking to revive its exclusive image by catering for the higher end of the market and stopping discounts on its products in department stores. Investors will also be looking to see if cotton restrictions from India are having any effects on profitability. IG Index quotes 1,535p-1,620p.