Thursday,23 June 2022 17:07:22

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.

Thursday,23 June 2022 at 16:08

Frasers Group has raised its stake in Hugo Boss to about €900mn in the latest move by the UK retailer to boost its exposure to the German fashion brand.

The UK-listed retail company, known for its Sports Direct, Flannels and House of Fraser brands, said on Wednesday that it had increased its direct holdings of Frankfurt-listed Hugo Boss shares to 4.9 per cent, up from a previous level of 2.1 per cent.

It has also increased its indirect exposure by granting put options, which give the holder the right but not the obligation to sell Boss shares to Frasers at a set price in the future.

UK & European stocks closed lower as mounting fears of an impending recession weighed on investor sentiment.

U.S. stocks climbed as investors weighed fresh unemployment data and braced for Federal Reserve Chair Jerome Powell’s second day of testimony on Capitol Hill.

Oil prices fell as investors weighed the risks of recession.

Gold prices edged up.

Markets

At the close

FTSE 100 7,020 (-0.97%)

FTSE 250 18,692 (-1.05%)

DAX 12,912 (-1.76%)

At 17:00

Dow Jones 30,483 +0.01%

S&P 500 3,775 +0.41%

NASDAQ 11,172 +1.10%

Fixed Income

UK 10-YR YIELD 2.317

Exchange Rates

GBP/USD 1.222

GBP/EUR 1.164

Commodities

Gold $1,833 (-0.25%)

Brent $110.38 +0.32%

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.