This morning we are focusing on companies reporting, as markets are a little bit flat, feels like to Matt Brown that the markets are running out of steam.
There is little in the way of macro data, equities are in a holding patterns and they are just seeing where to go from here. Strong numbers out of China, and all eyes on the US tax reform bill this evening. Look out for news flow on that says Matt!
Focus has been on companies reporting. Not great numbers from Sainsburys, trading off about 3% this morning.
This leads us into our companies to look out for this morning.
Today’s stock today is Burberry. Although they had a write-down of 15 million, which isn’t a huge amount for the company, especially considering store improvement. Numbers are actually not too bad, the profits are up 26% but the stock is trading down 10% this morning. Retailers are struggling, but Burberry is doing okay as China are their market and there are strong numbers coming from there at the moment.
Moose and Matt, both from Core London, then look into the possible solutions for Marks & Spencer in order to turn it all around. Watch the full segment to find out what they think!
Also looked at in today’s opening show are:
- Currency Pairs GBP/USD & EUR/GBP
- Core Number
- Economic Calendar
You can see more from the Daily Market Show by using this link: http://www.corelondon.tv/c/finance/london-show/