Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK market update – GDP increased more than thought in Q2, Boohoo sales up 20%

Stock MarketsSep 30, 2021 07:47
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Samuel Indyk

Investing.com – At 07:42BST, FTSE 100 Futures are trading higher by 0.6% at 7,119.

In FX markets, GBP/USD is trading at 1.3445, EUR/GBP is trading at 0.8629. The US Dollar Index is flat.

Today’s calendar highlights include German unemployment, Eurozone unemployment, German CPI, US GDP, US jobless claims, and US Natural gas storage change. Mexico and Colombia hold interest rate decisions.

Data

UK GDP increased by 5.5% in Q2, revised up from the previous reading of 4.8%. Health services and the arts performed better than initially thought, according to the Office for National Statistics.

UK house prices rose by 0.1% in September from August, according to Nationwide. On an annual basis, prices were up 10.0%.

Stocks

Diageo (LON:DGE) - Made a “strong” start to fiscal 22 with organic net sale momentum across all regions. European business is recovering ahead of company expectations. Expect organic operating margin to benefit from a further recovery in sales volumes, positive channel mix and premiumisation trends.

Boohoo (LON:BOOH) - H1 sales up 20% to £975.9 million. Gross profit up 19% to £533.3 million. Opening a new distribution centre in North America in 2023. Expectation for full year sales growth of 20%-25%. Elevated short-term cost headwinds experienced in the first half are expected to continue in H2. Consequently, adjusted EBITDA margins are now expected to be 9% to 9.5%, compared to 9.5% to 10% as previously guided.

South32 (LON:S32) - Exercised pre-emptive rights to acquire up to an additional 25% shareholding and related rights in Mozal Aluminium, from MCA Metals Holding, matching a purchase price of $250 million to acquire the interest.

Deliveroo (LON:ROO)/Morrisons PLC (LON:MRW) - Deliveroo launches Hop rapid grocery delivery service with Morrisons.

3I Group (LON:III) - David Hutchison to become non-executive Chairman of the board on 11th November.

Prudential (LON:PRU) - Net proceeds from share offer, after deduction of fees and other expenses, are estimated to be approximately HKD18.5 billion or $2.4 billion.

HICL Infrastructure (LON:HICL) - Non-exec director Mike Bane selected to succeed Ian Russell as Chair, effective 31st July.

Rio Tinto (LON:RIO) - Publishes first Communities and Social Performance (CSP) report. The report details progress made to 30 July 2021 in areas such as Traditional Owner partnerships and agreement modernisation in Western Australia; the introduction of new CSP structures and practices across the company; improved governance; and increasing social expertise within the business.

CLS Holdings (LON:CLSH) - Secured two leases at its assets in Munich and Hamburg. The new tenants have taken 68,975 sq. ft of space across the two buildings, both of which have been let above ERV.

Virgin Money (LON:VM) - To close 31 out of 162 branches as it accelerates digital transformation. Will take a circa £25 million restructuring charge in Q4. Will also take circa £20 million restructuring charge on operating model changes, where it aims to give colleagues greater flexibility around working patterns and location.

3I Infrastructure (LON:3IN) - Most portfolio companies have met or exceeded the expectations set in March 2021. On track to deliver its dividend target for the year ending 31 March 2022 of 10.45 pence per share.

FirstGroup (LON:FGP) - Greyhound subsidiary awarded an initial funding grant of $84.6 million from the first tranche of the US Department of the Treasury’s Coronavirus Economic Relief for Transportation Services (CERTS) scheme.

HSS Hire (LON:HSS) - To sell All Seasons Hire Limited to Cross Rental Services for £55 million.

Ex-Dividends

Barratt Developments (LON:BDEV), British American Tobacco (LON:BATS), Rightmove  (LON:RMV), and Smith & Nephew PLC (LON:SN) all go ex-dividend today, taking 5.79 points off the FTSE 100

 

UK market update – GDP increased more than thought in Q2, Boohoo sales up 20%
 

Related Articles

DocuSign Shares Plunge Despite Revenue, EPS Beat
DocuSign Shares Plunge Despite Revenue, EPS Beat By Investing.com - Dec 02, 2021

By Sam Boughedda Investing.com — DocuSign Inc (NASDAQ:DOCU) announced earnings per share of 58 cents on revenue of $545.5 million. Analysts polled by Investing.com...

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
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email