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.
Tuesday,24 January 2023 at 17:14
owner Associated British Foods on Tuesday posted a 20% rise in sales during the
Christmas period as consumers continued to hunt for bargains amid the
cost-of-living crisis and return to city shopping centres.
The company, which also has agriculture, sugar and food ingredients operations,
said revenue in the 16 weeks to January 7 rose to £6.7bn, with Primark sales up
18% to £3.1bn as visits to stores rose in large city centres and in retail
parks after as they rebounded from Covid lockdowns.
Group full-year expectations remain unchanged.
UK and European markets
closed lower with investors digesting the latest flash
purchasing managers’ index data from the euro zone in January, and the early
rumblings of corporate earnings season.
U.S. stocks wilted after
back-to-back days of gains as investors evaluated another round of quarterly
financial results from companies.
Crude oil prices were
steady as concerns about a global economic slowdown and
expected build in U.S. oil inventories were offset by hopes of a fuel demand
recovery from top importer China.
Gold prices were flat
as traders weighed the next Federal Reserve policy move next week.
At the close
FTSE 100 7,757 (-0.35%)
FTSE 250 19,855 +0.27%
DAX 15,093 (-0.07%)
Dow Jones 33,624 (-0.02%)
S&P 500 4,013 (-0.14%)
NASDAQ 11,353 (-0.09%)
UK 10-YR YIELD 3.277
Gold $1,933 +0.14%
Brent $86.60 (-1.62%)
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.