London stocks rose in early trade on Tuesday despite the imposition of a third national lockdown in England, as investors eyed a statement from Chancellor Rishi Sunak on a fresh business support package. At 0840 GMT, the FTSE 100 was up 0.6% at 6,609.84, faring well considering England was set …
Read More »Debenhams to be wound down as JD Sports ends rescue talks
It was a grim day for the UK retail sector as beleaguered department store chain Debenhams was set to be liquidated following failed rescue talks with JD Sports, just hours after Philip Green’s Arcadia retail group went into administration. Debenhams said on Tuesday that it will continue to trade through …
Read More »Royal Mail rallies after JPMorgan upgrade
Royal Mail shares rallied on Friday after JPMorgan Cazenove upgraded its rating to ‘neutral’ from ‘underweight’. It said that while the UK turnaround is far from certain, stronger short-run trading has at least bought some time, and should prevent a build-up of net debt. “The CWU negotiations appear to be …
Read More »Tasty cuts workforce by a third, mulls equity raising as outlets reopen
Wildwood restaurant chain owner Tasty said on Tuesday it would open around 86% of its estate this month having cut its workforce by more than 30%, as it considered an equity raising and warned of a “challenging” market. The firm said it remained “extremely cautious” regarding trading in September and …
Read More »FTSE 250 movers: Renishaw retreats on results; Watches of Switzerland sparkles
Engineering company Renishaw was the worst performer as it posted a drop in full-year profit as revenue fell amid “very challenging economic conditions”. National Express was also on the back foot after saying it swung to a half-year loss as the coronavirus lockdown led to an 80% slump in passenger …
Read More »FTSE 250 movers: Weir Group and Serco pace gains amid bargain hunting
London’s second-tier index finished in the red yet again as investors took stock of the Chinese coronavirus’s continuing spread globally and after the US Centers for Disease Control and World Health Organisation called for measures to be put in place immediately to break its advance. Despite those warnings and a …
Read More »London pre-open: Stocks seen higher after China tariff cut
London stocks were set to rise at the open on Thursday amid signs of easing trade tensions between the US and China. The FTSE 100 was called to open 55 points higher at 7,537. CMC Markets analyst David Madden said: “In a bid to improve China-US trading relations, overnight Beijing …
Read More »FTSE 250 movers: Victrex drops, Virgin Money climbs
London’s FTSE 250 was down by 0.32% at 20,956.09 in afternoon trade on Friday, with Victrex leading the index lower. Royal Mail was also weaker following a downgrade to ‘market perform’ at Bernstein, while the stock was also in focus after the Court of Appeal rejected a union appeal against …
Read More »FTSE 250 movers: Virgin Money soars, Future falters
London’s FTSE 250 was higher by 0.26% at 21,008.02 in afternoon trade on Thursday, with shares of Virgin Money UK leading the index higher. The Clydesdale and Yorkshire Bank owner surged even as it said full-year losses had widened and scrapped its dividend. AJ Bell analyst Russ Mould said: “Expectations …
Read More »FTSE 250 movers: Royal Mail tumbles, Direct Line climbs
London’s FTSE 250 was down by 0.83% at 20,304.86 in afternoon trade on Thursday, with Royal Mail dragging the index lower. Shares in the mail carrier tanked after the company said its transformation programme was behind schedule, cut its interim dividend and warned of a “challenging” outlook for the letters …
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