UK Shares Hold Near Peaks as Services Sector Displays Enduring Expansion
UK Stocks Regain Ground as Next Reaches All-Time High
On Thursday, January 4th, the FTSE 100 rebounded by 0.5% to surpass 7720, recovering from two consecutive sessions of losses. Notably, energy shares performed well, with BP’s stocks increasing by 0.5% after terminating their agreement with Equinor for supplying power to New York state from the offshore wind farm, Empire Wind 2. Meanwhile, British clothing retailer Next achieved a remarkable surge of 5%, reaching a record high, and raised its annual profit outlook. In contrast, JD Sports Fashion experienced a significant downturn of 23%, hitting a two-month low, as the sportswear retailer revised down its full-year profit forecast. In economic news, UK consumer borrowing expanded by a net £2.0 billion in November 2023, marking the highest since March 2017 and surpassing the expected £1.4 billion rise. Additionally, loans for home purchases totaled 50.1K, surpassing forecasts. Lastly, the final PMI survey revealed that Britain’s services output in December grew more robustly than initially estimated, reaching a seven-month high in optimism.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.