Market Report

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

* indicates required

Please select all the ways you would like to hear from Ramsey Crookall:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our email marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing.

Learn more about Mailchimp's privacy practices here.

Thursday,16 June 2022 at 16:15

Asos has warned that profits could slump to as little as £20m this year, down from over £190m last year, as cash-strapped customers hit by rising inflation return more items to the online fashion retailer.

The warning, which was given in an unscheduled trading update, prompted a sharp sell-off of Asos shares, which hit a 12-year low. 

Fast fashion retailers enjoyed rapid growth during the pandemic when shoppers were forced to shop online and were saving money usually spent on commuting, travel and restaurants. However, those same companies have struggled as physical stores reopened and inflation put pressure on consumer finances.

UK & European stocks fell sharply as hawkish policy actions from central banks fuelled worries of a possible recession.

U.S. stocks sank as investors weighed the potential economic costs of the Federal Reserve's ongoing fight with inflation.

Oil prices erased early gains to head lower though tight supply limited losses.

Gold prices steadied, buoyed by another dip in the dollar as investors assessed the implications of policy tightening by central banks to fight inflation.

At the close
FTSE 100 7,044 (-3.14%)
FTSE 250 18,727 (-3.05%)
DAX 13,038 (-3.31%)
At 17:10
Dow Jones 29,916 (-2.44%)
S&P 500 3,668 (-3.21%)
NASDAQ 10,648 (-4.03%)
Fixed Income
UK 10-YR YIELD 2.518
Exchange Rates
GBP/USD 1.232
GBP/EUR 1.170
Gold $1,845 +0.66%
Brent $118.02 (-0.63%)
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.

We use cookies to improve your experience on our website.
By continuing to browse, you agree to our use of cookies. Cookie Policy

Members of the London Stock Exchange and PIMFA | Licensed by the Isle of Man Financial Services Authority (IoMFSA) Registered Office: Ramsey Crookall and Co. Ltd., 38/42 Athol Street, Douglas, Isle of Man, IM1 1QH
Copyright © 2022 - Ramsey Crookall & Co. Ltd
Building Personal Finance Futures London Stock Exchange