Global markets failed to see a sell-off as previously feared though some US retail bricks-and-mortar data coming through is clearly poor: JC Penney has revealed weak first quarter numbers with its stock price today hitting $4.75, an all-time low.
The numbers were reinforced by grim earnings news from Kohl’s and Dillard’s. The pound was down -0.03% at 1.28775 while the euro climbed 0.64% against the dollar to 1.09300, though down -0.57% on the week overall.
- UK FTSE 100 7,435.39 +0.66%
- Dow 20,907.09 -0.05%
- S&P 500 2,391.54 -0.12%
- Nasdaq 6,119.11 +0.05%
- DAX 30 12,741.73 +0.26%
- CAC 40 5,396.88 +0.26%
- Gold 1,228.90 +0.38%
- Oil WTI 47.52 -0.67%
In the UK FTSE 100 pharma player AstraZeneca saw its shares finish more than 8% up after strong anti-cancer late-stage trial results emerged, helping the FTSE 100 to 7,435.39, up +0.66%.
“We look forward to working with regulatory authorities around the world to bring Imfinzi to lung cancer patients as soon as possible," AstraZeneca said.
There was a 2.67% lift for BT shares while GKN and Persimmon took -1.91% and -1.89% falls.
More evidence that UK new car sales continue to power the economy. Car finance deals, typically Personal Contract Purchases, soared in value to £3.6bn in March, a 13% surge.
There is worry an on-going binge of cheap debt-based PCP deals could compromise consumer borrowing, particularly from already indebted households.