The Dow Jones lifted beyond 25,350 today despite a less-than-impressive JOLTS (Job Openings & Labour Turnover Survey) reading suggesting fewer jobs were offered to the American labour force in November. A six-month low, in fact .
The biggest US stock gainers at 3.45pm London time were Savlon and Listerine maker Johnson & Johnson and Travelers Cos.Inc, up +2.6% and +1.8% while Nike shares dropped -1.2%.
Back in the UK Morrisons strong Christmas sales story, unveiled this morning at 7am, helped its shares climb more than +2.3%. But even factoring in today’s rise the Bradford grocer’s share price is still only up +2.7% in the last month.
Morrisons share lift was also Sainsbury’s gain (up +2.5% at close to 4pm), though Sainsbury’s don’t report their festive-reinforced revenues till tomorrow morning. Deutsche Bank today posted a Hold rating on Sainsbury’s. The FSTE 100 closed tonight at another record high, inching to 7,731, seven points ahead of its previous best (Friday). A 34-point total rise.
A little bit of corporate upset on the train today: Virgin says it will no longer sell the Daily Mail on its West Coast line, a decision branded as “disgraceful” by a Daily Mail spokesperson, according to the BBC. A higher dollar spot price, up +0.21% at 92.53 helped force sterling down more than -0.36% at 4pm to 1.3517. However a rather stronger yen pushed the dollar down to 112.48.
- FTSE 100 7,731 +0.45%
- DAX 13,388.14 +0.15%
- CAC 40 5,520.34 +0.60%
- Dow 25,283.00 -0.05%
- S&P 500 2,749.85 +0.08%
- Nasdaq 7,151.36 -0.08%
- Nikkei 225 23,849.99 +0.57%
- Gold 1,311.50 -0.67%
- Oil WTI 61.95 +0.36%
Byron restaurant chain seeks rent cuts
Upmarket burger bar Byron – which employs around 1,800 across the UK – could be set to shutter up to 20 restaurants. A decision is not thought due to the end of January. Byron is also thought to be seeking some rent cuts across 20 sites in East London and the north of England. In total it has 67 sites.
For the moment Byron has launched a Company Voluntary Arrangement (CVA) process though, critically, it will need landlords to agree to rent cuts for the CVA to work, plus approval from other creditors.
Byron’s core restaurant business and brand remain strong says CEO Simon Cope, “but the market that we operate in has changed profoundly. In order to continue serving our loyal customer base, we need to make some critical and difficult changes to the size and shape of our estate.”
The outlets at risk include several in London including Spitafields, Manchester Deansgate, Birmingham and Bristol.
Microsoft slows Meltdown and Spectre patches on freezing worry
Meanwhile gremlins in Microsoft patches meant to address the security Spectre and Meltdown problems are at work: there are complaints the patches are freezing some machines running AMD chipsets.
“To prevent AMD customers from getting into an unbootable state, Microsoft will temporarily pause sending the following Windows operating system updates to devices with impacted AMD processors at this time,” Microsoft said earlier. AMD shares are down -3% so far today.
Breaking news: President Trump is set to address the Davos economic forum towards the end of January. Greek protestors have stormed the country's Labour Ministry over fear strikes will be made more difficult to organise.