Despite a strong start for UK shares, driven by renewed hope over a US stimulus package and a coronavirus vaccine, the FTSE 100 finished modestly lower on Monday. Investors were unnerved by another wave of Covid-19 lockdowns in Europe, a disappointing third quarter Chinese growth figure as well as the probability a pandemic stimulus package won’t arrive before the US election. By close of ...

UK shares got off to a strong start on Monday morning as renewed hope over a US stimulus package and a coronavirus vaccine helped investors shrug off concerns over a no-deal Brexit and negative interest rates. Yet by lunchtime, the FTSE 100 was largely flat as the boost from US stimulus hopes, vaccine developments and Chinese economic data waned. US futures suggested Wall Street would manage ...

Shares in online fashion retailer Boohoo (BOO:AIM) plunged 12.95% to 274.7p after auditor PwC resigned, reportedly highlighting the reputation risks of continuing to work with the firm. In a statement, Boohoo confirmed it has launched a tender process for a new auditor, which PwC will not take part in, but pointed out that PwC remains its auditor at this time. It comes after the news was ...

UK shares got off to a strong start on Monday morning as renewed hope over a US stimulus package and a coronavirus vaccine helped investors shrug off concerns over a no-deal Brexit and negative interest rates. Optimism has grown that US lawmakers can agree on a fresh round of stimulus after House Speaker Nancy Pelosi on Sunday set a 48-hour deadline for lawmakers to cut a deal on economic aid ...

UK stocks traded higher on Friday, buoyed by Brexit deal hopes and growing confidence that a US stimulus deal would be approved. At the close the FTSE 100 was up 40 points or 0.7% to 6,019, back above the 6,000 level for the first time in more than three weeks. Gains were broad-based with nearly four sectors up for every sector which lost ground. Top gainers were aerospace, mining and tech ...

UK stocks traded higher on Friday, buoyed by Brexit deal hopes and growing confidence that a US stimulus deal would be approved. At midday the FTSE 100 was up 40 points or 0.7% to 6,018, lifted by buying across most sectors. Property stocks were well bid, along with miners and energy producers. Utilities and house builders were weaker after their recent out-performance. Sterling was steady ...

UK online fashion retailers Asos (ASC:AIM) and Boohoo (BOO:AIM) received a nice lift on Friday after German rival Zalando SE raised its full year earnings guidance thanks to stronger than expected trading in the last three months. Asos rallied 3% to a 12-month high of £54.51 while Boohoo gained 2.2% to 344p on the news that Europe’s leading online fashion retailer had raised its outlook for ...

Extra costs in multiple areas of the business present a headwind for fast-fashion retailer Boohoo (BOO:AIM). First-half results on 30 September failed to excite the market as better than expected sales growth was overshadowed by guidance for lots of extra spending. Customers returning fewer clothes helped boost the gross margin but Boohoo is now guiding for return rates to drift back to ...

Despite Wall Street heading higher on stimulus package hopes on Wednesday afternoon, helping European markets to regain their footing, the FTSE 100 finished 0.53% lower at 5,866.10. Weighing on sentiment was the latest data from the Office for National Statistics (ONS), which revealed UK GDP dropped 19.8% in the second quarter of this year, better than the first estimate of 20.4%. Despite the ...

UK shares were volatile on Wednesday, moving significantly higher initially before falling back into the red after the release of better than expected, but still bad, second quarter gross domestic product (GDP) figures. Before trading began, the blue-chip FTSE 100 index was expected to fall as investors struggled to digest last night’s messy US presidential debate between Donald Trump and Joe ...

Fast-fashion retailer Boohoo (BOO:AIM) has shrugged off the negative publicity from its Leicester supply chain scandal to deliver forecast-beating first-half results showing no slowdown between the first and second quarters. The online retailer also raised sales growth and adjusted earnings before interest, taxation, depreciation and amortisation guidance (EBITDA) margin guidance for the 2021 ...

M&A excitement in the gambling space and a strong showing on Wall Street helped the FTSE 100 to a positive finish on Friday, closing 0.3% higher at 5,842.67. Bookmaker William Hill (WMH) surged 42.5% to 310p as it revealed it had received two cash bids – raising the prospect of a competitive auction for the business. This led to strength in the wider gambling sector. Online fashion ...

The FTSE 100 gave up any gains by lunchtime on Friday to trade 0.8% lower at 5,776.34. Not helping sentiment was news that London has been placed on a UK Covid watchlist amid a surge in infections. European markets were also weak with the US futures markets implying there will be a poor start on Wall Street later. Closer to home there was renewed weakness for those businesses at the sharp ...

The release of an independent report into a supply chain scandal at online fashion retailer Boohoo (BOO:AIM) sets the shares off on a big relief rally, rising 11.3% to 361p on signs the company has clear plans to fix its problems. The probe concluded the company did not deliberately allow poor conditions and low pay to exist within its supply chain. The report identified 'significant and ...

The FTSE 100 got off to a modest start on Friday morning, gaining 0.35% to 5,843 on hopes that lawmakers in the US would agree on a crucial stimulus package for the world’s biggest economy. US government bond yields also rose following reports that Democrats were preparing a new economic stimulus package totalling $2.4 trillion in a bid to kickstart talks with Republicans, though reports ...

OUT OF FASHION In a quiet week for director dealings, online fashion purveyor Boohoo (BOO:AIM) saw two directors taking advantage of recent share price weakness. Chairman Mahmud Kamani spent £10.5 million buying five million shares and co-founder Carol Kane snapped up two million shares for £4.28 million. Boohoo has been the focus of attention for all the wrong reasons recently as ...

Shares in once high-flying Boohoo (BOO:AIM) have fallen by 44% so far in July with professional fund managers and retail investors losing patience with the online fashion group’s poor ESG (environmental, social and governance) practices. Shares believes the Boohoo blow-up sets a precedent for how investors will react to the next company that messes up in terms of ESG factors. The ...

Shares in ASOS (ASC:AIM) advanced 3% to £34.74 on Wednesday despite news of slower third quarter sales, after the online fashion retailer said it expected annual profit to be at the top end of market expectations. Investors were relieved that overall sales had grown through the pandemic, and probably heartened by the absence of the ethical sourcing issues that have emerged at ASOS’ fast ...

Shares in Quiz (QUIZ:AIM) crumbled 8.3% to 6.2p on Monday after the hard-pressed fashion brand said it was investigating claims that workers at a supplier factory in Leicester were being paid below UK minimum wages. Similar to the damaging allegations made against bigger fast-fashion rival Boohoo (BOO:AIM), where a supplier based in Leicester had subcontracted out to a further factory to supply ...

Shares in online fashion purveyor Boohoo (BOO:AIM) have plunged 45% from recent record highs to 230p following allegations of modern day slavery in supplier factories in Leicester. The negative backlash suggests that ESG-principled investors are turning their back on the company and that the shares have further to fall. Boohoo has started a review of its supply chain and is seeking to hire two ...