Stock prices in Europe opened largely higher on Friday, while sterling faded after numbers showed the UK economy registered no growth in July. Stocks have been supported by the conviction that the Federal Reserve will cut rates this month, a notion strengthened by more tepid labour market data on Thursday. The FTSE 100 index rose 22.58 points, 0.2%, at 9,320.16. It is up 1.2% so far this week....

Shares in WH Smith (SMWH) slumped 42% on 21 August, the second worst one-day fall ever among the current batch of UK-listed mid and large-cap retailers according to analysis by AJ Bell, after the travel retailer said it had uncovered a £30 million accounting error in its North America operations. This major accounting gaffe and associated profit warning represent a big blow to the credibility...

£30 million mistake in North America Full-year profit outlook lowered Management credibility damaged Shares in WH Smith (SMWH) plunged 35% to a 10-year low of 720p after the travel retailer said it had uncovered a £30 million accounting error in its North America operations and called in an independent auditor. The accounting gaffe and associated profit warning is a big blow to the FTSE 250...

Stocks in London ended lower on Monday, with housebuilders among the worst performers despite stronger mortgage approval data, as investors turned cautious ahead of a week packed with US economic data. The FTSE 100 index closed down 37.95 points, 0.4%, at 8,760.96. The FTSE 250 was 89.70 points lower, 0.4%, at 21,626.26, while the AIM All-Share added 1.32 points, 0.2%, at 770.65. The Cboe UK...

Deal proceeds reduced by £12 million High street trading has deteriorated Travel division trading in line WH Smith (SMWH) has completed the sale of its UK High Street division to private equity outfit Modella Capital in a transaction that transforms the company into a pure-play travel retailer with improved global growth prospects, and leaves it well-positioned to 'drive enhanced shareholder...

London stocks slipped on Wednesday as investors digested cautious updates from WH Smith and Bunzl, while fresh US probes into Chinese imports and semiconductor controls reignited trade war fears. The FTSE 100 index was down 29.39 points, 0.4%, at 8,219.73. The FTSE 250 was down 107.02 points, 0.6%, at 19,160.92, and the AIM All-Share was down 0.73 points, 0.1%, at 665.28. The Cboe UK 100 was...

Global equities fell on Friday, ending the week on a sour note as tariff worries linger, while US economic concerns also came to the fore after poorly-received consumer sentiment data.Next week will see the US update on tariffs, hot-on-the-heels of announcing trade curbs focused on the automotive sector.The FTSE 100 index ended down 7.27 points, 0.1%, at 8,658.85. The FTSE 250 was fell 49.72...

Stocks in London continued to outperform their European peers at midday Friday, with better-than-expected UK retail sales in February providing some good news, ahead of US personal consumption expenditures data.The FTSE 100 index was up 12.88 points, 0.2%, at 8,679.00. The FTSE 250 was up 9.42 points at 19,924.12, and the AIM All-Share was up 1.41 points, 0.2%, at 698.17.The Cboe UK 100 was up...

Creates travel-focused retailerSale to accelerate growth, enhance marginsWHSmith brand retainedWH Smith (SMWH) has agreed to sell its UK High Street business to private equity outfit Modella Capital for £76 million in a move that marks an end of an era for the British retailer, which opened its first shop in London way back in 1792.The transaction completes WH Smith's transformation into a...

Just over five years ago the stock market began to react in earnest to news of the Covid pandemic.The sell-off was short and sharp, with a modest recovery from the lows in the spring followed by sharper gains in November 2020 after AstraZeneca (AZN) made a vaccine breakthrough.However, a large number of UK stocks are still trading below the levels they were at by the close of trading on 21...

Shares in WH Smith (SMWH) jumped 5% to £12.11 on 27 January after the storied retailer confirmed it was 'exploring potential strategic options' for its High Street business, which opened its first shop in London back in 1792.These options include a potential sale of all 500 High Street stores at a time when bricks-and-mortar retailing faces online competition, subdued footfall and a sharp...

Good start to financial yearTravel delivering strong growthHigh Street arm continues to struggleHaving kick-started an auction process for its ailing High Street division earlier in the week, WH Smith (SMWH) was in demand with investors again as the retailer reported soaring sales at its Travel division over the Golden Quarter.The FTSE 250 company's shares rallied 6.6% to £12.69 on an update...

Exploring options for High Street divisionTalks ongoing with prospective buyersFocus on faster-growing Travel armShares in WH Smith (SMWH) were marked up 5.5% to £12.11 on 27 January after the global travel retailer confirmed it is 'exploring potential strategic options' for its storied-yet-struggling High Street business, which opened its first shop in London back in 1792.These include a...

Strong trading over peak seasonFull-year revenue in line£50 million share buybackGlobal travel retailer WH Smith (SMWH) said strong UK travel demand over the peak summer season had left the group in a strong position, prompting management to announce a surprise £50 million share buyback.Investors welcomed the update and share buyback, sending shares in the FTSE 250 company up almost 14% to a...

Stock prices were mostly higher at midday on Wednesday as markets prepared for possible rate cuts in Europe and Canada, with a boost for Smith & Nephew but a slump for B&M European despite strong earnings.The FTSE 100 was up 24.43 points, 0.3%, at 8,256.47. The FTSE 250 was down 13.88 points, 0.1%, at 20,704.11, and the AIM All-Share was up 3.53 points, 0.4%, at 801.73.The Cboe UK 100 was up...

Travel revenue up 9% for 13 weeks to 1 JuneOn track to deliver on full year guidanceWell positioned for peak summer tradingGlobal travel retailer WH Smith (SMWH) said it had seen continued positive trading momentum in the 13 weeks to 1 June, with total travel revenue up 9% putting it on track to deliver full-year results in line with expectations.Investors welcomed the positive trading update...

Full-year results from Greggs (GRG) on 5 March painted a picture of a company doing so well in its domestic territory that one has to ask when it might export the successful business model abroad.Greggs? profits and market share are growing, it is investing in manufacturing and distribution expansion, and shareholders are getting a special dividend. While the company is confident it can add at...

London stocks closed up on Friday, as consumer confidence reached a two-year high and the Federal Reserve appeared more likely to consider cutting rates.The FTSE 100 index closed up 105.36 points, 1.4%, at 7,635.09. The FTSE 250 ended up 114.92 points, 0.6%, at 19,338.02, and the AIM All-Share closed up 2.60 points, 0.4%, at 750.70.The Cboe UK 100 ended up 1.4% at 763.67, the Cboe UK 250...

Strong UK travel demand boosts revenuesOn track to open 110 new stores in 2024High street like-for-like sales drop 3%Retailer WH Smith (SMWH) said brisk trading at railway stations and airports helped boost group travel revenues by 16% in constant currencies for the 20 week period to 20 January 2024.Overall revenues grew 8% on a reported basis and 9% in constant currencies. While the company...

European equities went into Friday afternoon on the up, with measures to support China?s property sector and a forecast-defying final-quarter for luxury goods juggernaut LVMH lifting the mood.Focus in the afternoon will be on the Federal Reserve?s favoured US inflation gauge. A cooler than expected reading could swing the pendulum back in favour of a March rate cut.The FTSE 100 index was up...