FTSE 100 Closes Monday Down on Quiet Trade Dragged by Banks, Burberry Slips
16 January 2024 - 4:56AM
Dow Jones News
The FTSE 100 index closed Monday down 0.4% at 7594 points, in
line with European peers and mainly dragged by financial stocks and
retailers in a volume-light day as U.S. markets were closed for
Martin Luther King Day. "It seems that profit-taking continues to
prevail among investors. Earnings season didn't get off to a great
start on Friday, so there has been little incentive for traders to
chase the market even in its current subdued state," IG chief
market analyst Chris Beauchamp says in a note. Luxury goods
retailer Burberry was the index worst performer, with shares
further dropping 5.7% following Friday's guidance cut, when they
slipped 5.5%, followed by online grocer Ocado, down 5.1% ahead of
its trading update on Tuesday morning.
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Outflows
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the second quarter of fiscal 2024 as positive investment
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Crest Nicholson Cuts Guidance Again on Rising Costs
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PageGroup Gross Profit Fell on Tough Market Conditions
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tough market conditions continued, and that it expects full-year
operating profit to be below guidance.
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Bakkavor Shareholder BP-PE5 Sells 20% Stake to LongRange
Bakkavor Group said Monday that BP-PE5 LLC, an affiliate of the
Baupost, has sold its 20.1% shareholding in the company to
LongRange Capital Fund I and that as a consequence their
relationship agreement has ended.
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IQGeo Group Shares Rise After Full-Year Earnings Exceed
Expectations
IQGeo Group shares rose after the company said it expects
full-year earnings ahead of current market expectations, reflecting
sustained and strong growth and momentum across all key
metrics.
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
January 15, 2024 12:41 ET (17:41 GMT)
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