Breaking News
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% Upgrade now

FTSE Drifts; ABF Stung By Sugar Sales

By CMC Markets (David Madden)Stock MarketsJan 18, 2018 10:26
uk.investing.com/analysis/ftse-drifts-abf-stung-by-sugar-sales-200199365
FTSE Drifts; ABF Stung By Sugar Sales
By CMC Markets (David Madden)   |  Jan 18, 2018 10:26
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
EUR/USD
+0.14%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
GBP/USD
-0.14%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
+0.18%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
-1.51%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
-1.71%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ABF
+1.98%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Equity markets in Europe are mixed today as volatility remains low. The FTSE 100 is in the red and consumer staples and health care stocks are the biggest fallers.

Global markets had a muted reaction to the Chinese figures overnight. The economy grew by 6.8% in the final quarter of 2017, which was slightly than the 6.7% expected. Retail sales cooled to a growth rate of 9.4%, down from 10.2% growth in November.

Associated British Foods (LON:ABF) reported a 3% rise in revenue for the 16 weeks until early January. The company is hopeful that it will see an improvement in relation to profits, and it is confident it will achieve its full-year target. As per usual the Primark division performed well, and posted a 9% increase in sales. The sugar business saw a 13% drop in revenue, but sugar prices have been relatively weak recently. The share price is down 2.7%.

Whitbread (LON:WTB) revealed a 0.3% increase in like-for-like (LFL) third-quarter UK sales. The company expects ‘tough UK high street environment and inflation’ to persist. Premier Inn eked out a 0.5% rise in revenue for the period, which was helped along by restaurant sales. Costa Coffee continues to underperform as LFL sales dipped by 0.1% in the UK. Last month activist investor Sachem Head Capital Management revealed they own a 3.4% stake in the company, and the fund is promoting the idea that Whitbread spin-off Costa Coffee. The disappointing numbers from the coffee division today could fuel speculation of a break-up. The stock is up 2.1%

GBP/USD and EUR/USD are both a slightly higher on the session as the US dollar has cooled a little today. The pound and the euro have enjoyed positive runs versus the greenback recently, and today’s upward move could be the beginning of another leg higher.

At 1.30pm (UK time) the US will release the jobless claims report, and the consensus is for a fall to 250,000 from 261,000.

Morgan Stanley(NYSE:MS) (NYSE:MS), American Express (NYSE:AXP) and Bank of New York Mellon (NYSE:BK) (NYSE:BK) will announce their quarterly figures today.

We are expecting the Dow Jones to open down 35 points at 26,080, and we are calling the S&P 500 down 4 points at 2798.

DISCLAIMER: CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

Original Post

FTSE Drifts; ABF Stung By Sugar Sales
 

Related Articles

David Madden
Is Apple turning sour? By David Madden - Sep 27, 2022

Apple’s (AAPL) share price rallied in late July as the third-quarter numbers topped forecasts, but the stock has been sliding since because of the wider sell off in the markets....

FTSE Drifts; ABF Stung By Sugar Sales

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email