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Monday,14 November 2022 at 16:42
fashion retailer Joules is
to appoint administrators after talks with investors about rescue financing
failed, leaving its 1,600 staff at risk of losing their jobs.
The company said last week it was in negotiations with strategic investors
about an emergency equity raise but said that it needed bridge finance to avoid
defaulting on a bank loan at the end of this month.
Joules said today: “Discussions with various parties have not been successful
and have now terminated.”
UK and European stocks
were cautious as investors assessed recent U.S. inflation data
alongside a warning from a top Federal Reserve official.
U.S. stocks started the
week on a downbeat note as Wall Street hinges on another round
of earnings from the retail sector.
Oil prices pared earlier
gains and fell, dragged down by a firmer U.S. dollar and record
high coronavirus cases in major Chinese cities.
Gold priced lower.
At the close
FTSE 100 7,388 +0.98%
FTSE 250 19,598 (-0.09%)
DAX 14,308 +0.60%
Dow Jones 33,721 (-0.13%)
S&P 500 3,975 (-0.43%)
NASDAQ 11,210 (-0.99%)
UK 10-YR YIELD 3.374
Gold $1,768 (-0.18%)
Brent $94.45 (-1.40%)
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.