Spreadex Market Update
FTSE begins to slip following Monday’s anti-Brexit rebound; Costa Coffee leads Whitbread sales surge
The FTSE saw the biggest movement after the bell, falling around 0.7% to dip under 6200. Bar the public sector net borrowing figure, which is set to hit a 6 month high of £9.5 billion, the UK index has little to focus on but the latest pre-referendum murmurs and musings, something that may not make for a smooth day of trading.
There is a bit more to work with over in the Eurozone this Tuesday. The ZEW economic sentiment figures for Germany and the region as a whole are set to be released, with the former expected to slip to 5.1 from 6.4 while the latter is forecast to fall to 15.3 from 16.8. That may help temper the growth of the DAX and CAC after Monday’s robust rebound, with both indices looking decidedly timid after the open.
Although the potential Brexit continues to dominates discussion there are still a few brave companies releasing trading updates in the vain hope of being noticed. Tuesday’s most eye-catching statement came from Costa Coffee and Premier Inn-owner Whitbread, the FTSE100-listed company posting an 8% rise in total sales and a 1.8% jump in like-for-like sales for the 13 weeks to June. Costa got the gold star this quarter, like-for-like sales surging 2.6% compared to Q4’s 0.5%; Premier Inn, on the other hand, suffered in a ‘weaker than expected’ hotel sector, the chain’s like-for-like sales coming in at 2.1% against 2.2% in the final quarter of last year. This helped the stock continue yesterday’s rebound, Whitbread climbing 0.7% after the bell.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
