Shares in Associated British Foods are offside this morning after the release of its key Christmas trading update, despite flagship Primark stores bucking a wider retail slowdown on the UK high street. Sales at the budget clothing chain improved 9% YoY, a record for the Christmas period, however accounting for constant FX the numbers were…
During the bitter January months, traders on both sides of the pond have become acclimatised to the frantic beginning of earnings season. And in the midst of the deluge of results, one sector that is watched closer than any other are the Banks. Its our stateside cousins that take the lead, with major names having…
When the highlights of a Q3 trading statement reiterate the multi-year turnaround plan you presented in November alongside an ugly profits warning (“margins won’t grow until 2021”), there’s a good chance that the growth figures and outlook will disappoint. And so we find Burberry shares 7% offside this morning, breaching multi-month lows to trade levels…
Macro observations Ahead of next week’s key European Central Bank monetary policy update, and the closely watched Davos summit in Switzerland, Euro traders will be keeping their eyes peeled and their ears open for any policy snapshots divulged by policymakers. So far this week, however, it has not been good news for the Bulls. Already, ECB…
Shares in JD Sports are nicely higher this morning as the company upgrades FY profits guidance for the second time in four months. The high street retailer, known for its trainers and athletic leisurewear, upgraded its FY expectations to £300m, a gentle nudge above previous top end expectations of £270m to £295m. The latest guidance…
Having jumped 26% on Friday following rebuffal of an ‘opportunistic’ £8bn approach from competitor Melrose Industries, engineering company GKN’s shares are 2.5% further north this morning. This after Melrose said it is “commencing a series of shareholder meetings to discuss the proposal”. This suggests it may be looking for the nod from major shareholders to…