Friday,25 November 2022 16:46:03

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Friday,25 November 2022 at 16:48

UK discount clothing retailer Primark said it planned to invest £140m, including the opening of four new stores and the creation of at least 850 jobs as it looks to increase footfall during the cost-of-living crisis.

Parent company Associated British Food will make the investment over the next two years in its UK operations.

The retailer has been boosting its in store offering in recent years by adding beauty treatments, home ranges and cafes to shops. Collaborations with Greggs are in Primark shops in Birmingham and London.

UK & European markets fell slightly to close out an upbeat week, as the U.S. Federal Reserve’s latest meeting minutes added to expectations that monetary policy tightening may slow down.

The dollar crept higher across the board in a quiet session but remained near multi-month lows as the prospect of the Federal Reserve moderating the pace of its policy tightening weighed on the U.S. currency.

Oil prices were stable in thin market liquidity, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.

Gold prices retreated as the U.S. dollar regained ground, after the non-yielding metal posted gains in the previous three sessions on expectations the U.S. Federal Reserve would scale back its rate-hiking stance.

Markets

the close

FTSE 100 7,486 +0.27%

FTSE 250 19,545 +0.03%

DAX 14,541 +0.01%

16:47

Dow Jones 34,368 +0.50%

S&P 500 4,027 +0.02%

NASDAQ 11,230 (-0.48%)

Fixed Income

UK 10-YR YIELD 3.121

Exchange Rates

GBP/USD 1.209

GBP/EUR 1.163

Commodities

Gold $1,750 (-0.29%)

Brent $84.91 (-0.12%)

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.