It's always disappointing to see businesses struggle and sadly the numbers could get worse given the Bank of England's warning about a big slowdown in the economy and 10% inflation.The troubles at McColl's Retail (MCLS) have set the scene for difficult times ahead. The company has gone into administration and shareholders are set to lose everything, even though the business is subsequently being a

Shares in retailer McColl's (MCLS) halved to 2p on Monday after the indebted convenience store operator issued yet another earnings alert and warned that its equity may be worthless.The 'community retailer' said it is discussing a financing solution with its lenders and key commercial partner Morrisons to resolve its short-term funding issues, though the cash-strapped company added ominously: 'It

Shares in McColl's Retail (MCLS) crashed 53% to just 3.3p after the convenience store operator posted yet another profit warning and confirmed that a bid for the whole business has been withdrawn.In response to media speculation that it is at risk of collapse, the 'community retailer', which raised £30 million from shareholders in a cash call just six months ago, said it is remains in funding tal

UK stocks closed lower on Friday after a weak opening in the US caused by a fall in banking shares following mixed fourth quarter earnings reports, while weaker than expected US retail sales also dampened market sentiment.JP Morgan dropped 5% despite beating estimates as investors were disappointed by the performance of its trading division.Citigroup fell 2% after reporting a 28% drop in earnings

UK stocks were directionless at midday Friday despite official figures which showed the UK economy growing 0.9% in November compared with October, well ahead of the consensus forecast of a 0.4% increase and taking it back above its February 2020 pre-pandemic level for the first time.The US banking season kicked off today with JP Morgan reporting better than expected revenues and profits. However,

UK stocks resisted the general downdraft in markets after official figures showed the economy grew 0.9% in November compared with October, well ahead of the consensus forecast of a 0.4% increase and taking it back above its February 2020 pre-pandemic level for the first time.US markets fell sharply overnight after more hints from the Federal Reserve that interest rates could rise sooner rather tha

Both the FTSE 100 index of leading shares and the mid-cap FTSE 250 Index ended Wednesday's trading session in negative territory as concerns regarding UK inflationary pressures mounted.The CPI (consumer price index) rose to a near 10 year high in October of 4.2% from 3.1% in September and is likely to increase further during the rest of the year.Weakness in US equity markets also weighed as invest

Shares in embattled McColl's Retail (MCLS) slumped 26% to an all-time low of 13.4p on Wednesday after the convenience store operator downgraded annual earnings guidance once again, pinning the blame on continuing supply chain disruption.The earnings alert follows a profit warning served up in August, when the retailer reported disappointing first half figures and flagged that supply chain disrupti

London's major stocks opened modestly lower as the inflation genie continues to work its way out of the bottle, although banks defied the gravitational pull.At 9am, the benchmark FTSE 100 was 0.13% down at 7,317.61 after UK inflation rose to its highest in almost a decade. But there was plenty of demand for bank stocks, seen as benefitting from an increasingly likely rise in interest rates, with L

London's FTSE 100 ended Thursday's trading session materially lower after US producer prices data came in ahead of forecasts, the blue chip benchmark closing down 0.4% at 7,193.23 points despite better than expected UK GDP figures.In the US the S&P 500 was flat at 4,447.27 points by 4.30pm UK time.STOCK SPIRITS RECOMMENDS CVC OFFERIn company news, central European branded spirits producer Stock Sp

London's FTSE 100 ended Monday's session in positive territory, wiping out earlier losses to trade firmly above 7,100 by the close of play and shrugging off a weaker open on Wall Street, where the S&P 500 was down 0.16% to 4,429.43 by 4.30pm UK time.COMPANY NEWSIn company news, wealth manager Hargreaves Lansdown (HL.) sank 11.2% to £14.57, even as it reported an 8% rise in annual underlying profi

As Winston Churchill famously observed while he was working to form the United Nations after the Second World War, 'Never let a good crisis go to waste'.In a similar vein, UK tech entrepreneurs have made full use of the Covid pandemic and the radical shift in peoples' shopping habits to launch a raft of local on-demand delivery services designed to take on Ocado (OCDO) and the supermarkets' own de

UK stocks continued to nurse small declines by the end of the Tuesday trading session as investors remained jittery ahead of testimony to Congress from both Fed chief Jerome Powell and Treasury Secretary Janet Yellen.Closer to home, rising Covid-19 cases in Europe, resulting in Germany extending its mobility restrictions, put pressure on oil prices and equities, with Brent crude falling more than

UK stocks stayed under mild selling pressure in early afternoon trading as investors remained jittery ahead of testimony to Congress from both Fed chief Jerome Powell and Treasury Secretary Janet Yellen.Closer to home, rising Covid-19 cases in Europe, resulting in Germany extending its mobility restrictions, are putting pressure on oil prices and equities. Turkish markets continued to add to a vol

Shares in convenience stores operator McColl's Retail (MCLS) dipped 0.1% to 31.7p after the retailer reported a plunge in annual adjusted pre-tax profits and passed the dividend despite seeing a pandemic-driven like-for-like sales leap last year.The profits drop reflected the impact of lower margins and ongoing Covid-related costs, though McColl's has extended its wholesale partnership with Morris

UK stocks opened lower on Tuesday, despite a fall in the local unemployment rate, as Germany imposed stricter Covid-19 lockdown measures in a sign the pandemic is far from over.London's FTSE 100 softened 0.5% to 6,691.8 points early on, while the FTSE 250 fell 0.4% to 21,361.91.The UK unemployment rate fell to 5.0% in November to January, down from the last reading of 5.1% in October to December a

The FTSE 100 finished lower after modest gains earlier in the session on Monday were eroded by weak mining and oil & gas sectors as commodity prices were generally softer. Brent crude futures fell while copper was down 0.3%, although still remained higher than $4/lb.The benchmark FTSE 100 closed 0.17% down at 6,749.70, in line with falls across major EU markets, as more European countries halted t

The UK's leading stocks eased back from earlier highs but stayed on the front foot into early afternoon trading. London's benchmark FTSE 100 opened stronger on Monday as Covid-19 vaccine rollout efforts continued to gather momentum in the UK and in major economies, such as the US.Investors also welcomed impressive growth figures from China and the passage of Joe Biden's $1.9 trillion stimulus pack

London's FTSE 100 opened stronger on Monday as Covid-19 vaccine rollout efforts continued to gather momentum in the UK and in major economies such as the US.Investors also welcomed impressive growth figures from China and the passage of Joe Biden's $1.9 trillion stimulus package in the US, which helped the blue chip benchmark 0.45% higher to 6,791.88 points early on.PROVIDENT FINANCIAL PLUNGESIn c

UK shares started the new week and month in an optimistic mood, shrugging off recent inflation and bond market jitters as the focus shifted to a vaccine-led recovery and US fiscal stimulus.Trading in Asia was strong with the Nikkei 225 gaining 2.4% and the SE Composite adding 1.2%. Gold prices were 0.7% higher at $1,750 an ounce while Brent Crude added 0.25% to $62.63 a barrel. The pound was stead