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UK News: Markets lift as sales figures boost London’s clothes sellers

James Bond No Time To Die is top-seller on DVD as home entertainment enjoys £10bn renaissance

  James Bond No Time To Die is top-seller on DVD as home entertainment enjoys £10bn renaissance Pandemic delivers a renaissance for Home Entertainment as digital streaming of films, TV and music surgesThe UK music, video and games markets generated record sales total of £9,716m, the trade body Entertainment Retailers Association (Era) reported.

European markets recovered lost ground from a tough start to the week as investors looked to be piling into Monday’s dip.

Next was one of the top five risers in London on Tuesday (Ian West/PA) © Ian West Next was one of the top five risers in London on Tuesday (Ian West/PA)

In London, the rise was led by major fashion retailers Next and JD Sports, as well as mining companies and gambling firms.

It helped the FTSE 100 index of London’s main firms rise by 46.12 points, or 0.6%.

It came as figures on retail sales showed a 2.1% rise in December compared to the same month a year ago, also up 4.6% compared to 2019.

“However, the British Retail Consortium (BRC) have warned that consumer spending could take a hit thanks to rising inflation and surging energy bills,” said Spreadex expert Oliver Males.

Boots bounces back as American owner seeks buyer for the British chain

  Boots bounces back as American owner seeks buyer for the British chain Walgreens Boots Alliance said revenues at the Boots pharmacies were 8.8% higher in the three months to November than in the same period a year earlier. And in the retail arm, sales were up 16.4 per cent. © Provided by This Is Money Boots-owner Walgreens Boots Alliance said revenues were 8.8% higher in the three months to November than in the same period a year earlier Although fewer people were coming into stores than before Covid struck, they typically spent 12 per cent more than they did pre-pandemic, and online sales were booming.

He added: “The World Bank stated today that they expect the global economy to only grow 4.1% this year, down from 5.5% last year, due to the Omicron variant.

“But despite this, many UK economists only expect December and January being flat, as the worst-case scenario, due to how well the UK seems to be handling the virus compared to most other countries, especially across Europe.”

In New York, the Dow Jones had risen 0.1% slightly after UK markets closed, while the S&P 500 was up by 0.5%.

In France, the Cac 40 closed up 1%, while Frankfurt’s Dax remained fairly flat.

“European markets have enjoyed a much better session today, although the bias has been much more defensive in nature with healthcare stocks outperforming, and today’s resilience continuing to contrast with how stocks are performing in the US, where the air looks a little bit thinner,” said CMC Markets analyst Michael Hewson.

Night Tube strike begins in London

  Night Tube strike begins in London Drivers in London walked out at 8.30pm as they began six months of strike action over rosters for the Night Tube service. They will walk out every Friday and Saturday night until the summer - in a move which travel chiefs warn will cause major disruption to the Central and Victoria lines.It follows a dispute with Sadiq Khan over rosters for the Night Tube service - which was restarted in November following its closure during the first Covid lockdown.But drivers, who are being asked to work four night shift weekends per year, say the new rosters are 'unfair'.

He added: “Dechra Pharmaceuticals has stood out near the top of the FTSE 100, after announcing it had acquired the global rights to Verdinexor, a drug that is used in the treatment of canine lymphoma.

“Today’s move higher in Dechra shares also helps to reverse five days of sharp declines which had seen the shares fall over 15% in the space of a week.”

On currency markets, the pound dropped 0.1% against the euro and would buy 1.1991 euros by the end of the day. Against the dollar it rose 0.1% to 1.3619.

In company news, Darktrace reached close to the top of the smaller FTSE 250 index after it revealed a higher earnings and sales outlook for the financial year.

The business said it had seen customer numbers grow by nearly 40%. The business dropped out of the FTSE 100 in December after its share price halved from a high in September.

On Tuesday its shares soared by 6.9%.

Elsewhere, shares in Games Workshop dipped by 10.9% when it said that profits dipped in the last six months.

The business said that sales had grown, but its costs are going up due to increased prices for freight, warehouses and logistics. It also took a £15 million hit from VAT receipts following Brexit.

Pre-tax profits were down by 3.7% in the six months to the end of November.

The biggest risers on the FTSE 100 were Scottish Mortgage Investment Trust, up 57p to 1,196p, Next, up 346p to 8,000p, Dechra Pharmaceuticals, up 146p to 4,446p, JD Sports, up 6p to 218.8p, and Fresnillo, up 20.8p to 336.6p.

The biggest fallers on the FTSE 100 were Reckitt, down 93p to 6,228p, United Utilities, down 1p to 116.1p, Diageo, down 44p to 3,805p, Croda International, down 92p to 8,942p, and SSE, down 16p to 1,622.5p.

The Apprentice fires third candidate .
Navid Sole has become the third contestant to get booted off 'The Apprentice' following a showdown in the boardroom.The 27-year-old pharmacist found himself facing the wrath of Lord Alan Sugar after he and Akeem Bundu-Kamara failed to impress project manager Sophie Wilding with their performance in this week's task, which saw the teams tasked with creating a non-alcoholic drink and pitching their product to potential buyers.

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