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Share Price: 9,332.00
Bid: 9,328.00
Ask: 9,334.00
Change: 50.00 (0.54%)
Spread: 6.00 (0.064%)
Open: 9,312.00
High: 9,350.00
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Prev. Close: 9,282.00
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Retail sales rebound in February, data shows

Thu, 21st Mar 2013 11:49

Retail sales rose more than expected in February, boosted by strong demand for tablet devices, the Office for National Statistics (ONS) revealed Thursday.Total sales increased by 2.1% last month, compared with -0.7% in January, beating the 0.4% consensus.Core sales, excluding fuel, increased by 1.9% when compared to January, and by 3.3% on the year.Nominal sales were also strong, rising by 1.8% on the previous month, while retail sales inflation remained weak at 0.7% year-on-year.Strong sales at computer equipment retailers and department stores provided the largest contribution to February's rise, along with solid online results, the ONS said.Online spending accounted for 9.7% of all retail spending, excluding fuel, in February. The average weekly spend online rose 10% to £540m compared to a year ago. The weekly spend across all retail sectors amounted to £6.3bn in February compared with £6.1bn a month earlier and for the same period a year ago.Barclays said the figures indicted the retail sector was likely to see growth in the next quarter."This improvement is welcome given the underlying trend in consumer spending has been very weak for a prolonged period, as the hit to consumers from high inflation and a weak labour market has been significant," the bank said. "However, we think that despite the positive news it is too soon to call for a significant change in fortunes here and other data releases we have had this week were not supportive of the consumer sector."Earlier in the week we saw inflation rising further and earnings growth falling unexpectedly, suggesting the squeeze in real household incomes is set to continue and the outlook for retailing remains challenging."The data was released the same day UK retail giants NEXT and Ted Baker reported an increase in annual profits. RD
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5 Jan 2023 07:33

Next lifts FY profit guidance after better-than-expected Christmas sales

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4 Jan 2023 08:54

LONDON MARKET OPEN: Strong open despite strikes, inflation woe in UK

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LONDON BROKER RATINGS: Citigroup cuts Wizz Air; Redburn likes CRH

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning, Monday and late Friday:

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30 Dec 2022 09:07

LONDON MARKET OPEN: FTSE 100 opens lower but outperforms peers in 2022

(Alliance News) - Stock prices in London opened the last trading day of the year lower on Friday, but the FTSE 100 index has fared better than other blue-chip indices in Europe in 2022 as a whole.

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29 Dec 2022 13:40

UK earnings, trading statements calendar - next 7 days

Friday 30 December 
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29 Dec 2022 09:09

LONDON BROKER RATINGS: Jefferies raises Next price target

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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29 Dec 2022 07:31

LONDON BRIEFING: Growing concern about China as Covid cases surge

(Alliance News) - Stocks in London are set to open lower on Thursday amid worries about rising Covid cases in the world's second-largest economy.

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28 Dec 2022 16:57

LONDON MARKET CLOSE: Catch-up playing FTSE up amid jitters elsewhere

(Alliance News) - London's FTSE 100 outperformed global peers on Wednesday as equity market trading resumed after the Christmas break.

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23 Dec 2022 09:59

LONDON BROKER RATINGS: Stifel raises Next to buy, cuts boohoo to hold

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday afternoon:

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23 Dec 2022 09:00

LONDON MARKET OPEN: Trading subdued on quiet Friday before holidays

(Alliance News) - Stock prices in London opened slightly higher Friday on a half-day ahead of the four-day Christmas break.

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21 Dec 2022 16:52

LONDON MARKET CLOSE: Stocks higher as UK retail gets boost from Nike

(Alliance News) - Stock prices in London closed in the green on Wednesday, with the FTSE 100 lifted by retail stocks getting a boost from strong quarterly figures from US sportswear brand Nike in a positive read-across.

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21 Dec 2022 11:11

German gas subsidy clouds euro area inflation forecasts

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19 Dec 2022 17:05

LONDON MARKET CLOSE: Stocks higher despite downbeat UK data

(Alliance News) - Stock prices in London closed in the green on Monday, showing some positivity at the beginning of a festive week despite some gloomy data out of the UK.

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19 Dec 2022 09:40

LONDON BROKER RATINGS: JPMorgan cuts Marks & Spencer to 'underweight'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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19 Dec 2022 08:55

LONDON MARKET OPEN: Stocks higher as China begins shaky reopening

(Alliance News) - Stock prices in London opened higher on Monday, but the FTSE 100 was lagging behind European counterparts, despite gains for oil and mining stocks.

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