JC Penney has revealed weak first quarter numbers with its stock price hitting $4.74, near an all-time low, at one point.
In the US, some shock for retailer Macy’s: shares fell 17% as the retailer revealed a profits slump with profits coming in at just 24 cents a share compared to an estimated 35 cents.
Bank of England warns spending confidence will take time to recover meanwhile US shares take a hit, the worst daily decline since April.
The long-term picture for social media giant Snap remains unclear after the company posted a huge quarterly loss of $2.2bn on May 10. It was the firs
Uberisation of the economy
London’s Big Board was up 0.59% higher on Wednesday at 7,385.24 edging closer to 7,400 helped by strong gains for oil players.
The FTSE 100 neared 7,400 ending the day at 7,388.13 though it hit 7,398.58 at one point. The two biggest climbers were Hargreaves Lansdown and Associated British Foods
ITV ad revenues come under pressure but Barratt Developments predicts record sales year.
The indices remained steady but the broader market weakly so sliding in reaction to rising geopolitical tensions between the US and North Korea and a slump in oil prices.
SSE and Centrica shares hit on Tory plans to cap prices
Apple shares shift higher meanwhile Conservatives confirm energy rate bill cap
Monday saw the FTSE 100 finish just three points higher at 7,300.86, up 0.05%. The top risers included Intu Properties, up 2.15% to 275.50p and Paddy Power Betfair, up 2.10% to 8,250p. Centrica shares lifted 1.86%. There was also some support for high street retailer Next, up 1.84%.