Monday,20 June 2022 16:58:32

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Monday,20 June 2022 at 16:00

Primark, which is owned by Associated British Foods, is launching a trial that will mean shoppers can “click and collect” children’s products from 25 of its stores.

The budget fashion retailer was severely hit during the pandemic when it lost billions of sales as all of its stores were forced to shut during lockdowns and its lack of a website meant that it had no buffer from online revenues.

Analysts have said that it is only a matter of time before Associated British Foods relents and launches online, but it has so far resisted as it fears this would stop customers coming to its stores.

The new click and collect service will allow customers to shop from 2,000 children’s products which it says will “cater for a broad range of family needs, from furnishing a nursery to clothing children of all ages”.

UK & European stocks closed higher after a tumultuous five days of trading last week.

U.S. markets were closed for the Juneteenth public holiday.

Oil priced higher.

Gold extended losses as an elevated dollar weighed on bullion demand.

Markets

At the close

FTSE 100 7,121 +1.50%

FTSE 250 19,010 +0.45%

DAX 13,265 +1.06%

At 17:00

Dow Jones 29,888 +0.00%

S&P 500 3,674 +0.00%

NASDAQ 3,674 +0.00%

Fixed Income

UK 10-YR YIELD 2.598

Exchange Rates

GBP/USD 1.224

GBP/EUR 1.162

Commodities

Gold $1,838 (-0.07%)

Brent $113.60 +0.42%

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.