Tag: Currys

  • FTSE 100 Opens Flat at 10,670 Ahead of ECB Decision; Brent Crude Holds Above $100

    FTSE 100 Opens Flat at 10,670 Ahead of ECB Decision; Brent Crude Holds Above $100

    The FTSE 100 opened flat at 10,670.04 ahead of a European Central Bank decision, as a US Treasury announcement on bond buybacks failed to impress. Brent crude futures rose 0.09% to USD 101.3 per barrel. US West Texas Intermediate (WTI) advanced 0.22% to USD 96.26 per barrel.

    Sterling traded at USD 1.3354 on Thursday, falling from USD 1.3548 at the time of the London equities close on Tuesday. Versus the euro, it fell to EUR 1.1641.

    Gainers & Losers

    On the upside, Whitbread climbed 1.98% to 2,366p. Compass Group advanced 1.87% to USD 31.10, while Aberdeen Group gained 1.53% to 252.40p. JD Sports Fashion rose 1.21% to 80.60p, Fresnillo added 1.08% to 3,082p, and ICG increased 0.94% to 1,943p.

    On the downside, Associated British Foods fell 9.31% to 1,832p. Computacenter declined 2.99% to 5,035p, while Endeavour Mining dropped 1.39% to 4,605p. Rio Tinto slipped 0.84% to 7,538p, Lion Finance Group lost 0.74% to 13,350p, and Games Workshop Group edged 0.51% lower to 17,480p.

    Q1 Recorded 7% Sales Increase

    Currys reported like-for-like revenue growth of 7% in Q1, with UK and Ireland sales up 6% and the Nordics up 9%. The retailer said it is “comfortable with market consensus” and left full-year guidance unchanged. Despite this, shares in the group fell 1.3%. Recurring Services revenue continued to grow, with flexpay adoption up 30 basis points year-on-year to 23.6% and iD Mobile subscribers rising 16% to more than 2.7 million.

    In the Nordics, sales growth was led by white goods and mobile, supported by continued momentum in new categories, B2B and Services, with market share gains in most countries against soft comparatives.

    KKR Acquired Eleco

    Private equity firm KKR has snapped up construction software provider Eleco in a deal that values the company at around GBP 208 million. The takeover gives shareholders GBP 235 per share, representing a 74.7% premium over the previous day’s closing price. Investors holding just over 45.2% have already pledged support for the takeover, which is expected to close in early 2027.

    THG Recorded Revenue Rise

    Ecommerce company THG posted a 7% rise in revenue in the first half of the year after a boost in sales in both its beauty and nutrition divisions. The company said revenue across the group was GBP 828.7 million in the period, up 7.2% year on year and above guidance of 6.5%. THG Beauty, which includes brands like Lookfantastic and Cult Beauty, delivered 5.9% revenue growth while THG Nutrition sales rose 9.2%.

    Global Market View

    In the US, the Dow Jones Industrial Average dropped 405.41 points, or 0.77%, to end at 52,380.66. The S&P 500 shed 0.48% to close at 7,636.36, while the Nasdaq Composite fell 0.64% to 26,253.34. In Asia on Thursday, Tokyo’s Nikkei 225 advanced 0.2% to 65,270.95, while China’s Shanghai Composite fell 0.43%. Hong Kong’s Hang Seng declined 1.26%, and South Korea’s Kospi declined 0.25%. In India, both the Nifty 50 and the Sensex rose by 0.03% and 0.047%, respectively.

    Also Read: Stock Market Update: Nifty 50 Opened 0.06% Higher, Sensex Fell 21.69 Points Amid Rising Oil Prices

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  • FTSE 100 Edges Higher as Brent Crude Drops; Bailey Rules Out Rate Cut, Currys and Halma Post Gains

    FTSE 100 Edges Higher as Brent Crude Drops; Bailey Rules Out Rate Cut, Currys and Halma Post Gains

    The FTSE 100 traded 24.96 points higher near 10,503 on July 2, buoyed by dovish commentary from central bankers at the Sintra forum, which offset pressure from declining oil prices linked to progress in US-Iran talks. Brent crude futures fell 0.78% to $71.01 a barrel, while US West Texas Intermediate (WTI) declined 0.74% to $68.07 a barrel.

    Gainers & Losers

    On the upside, Compass Group rose 2.47% to $32.82, Tesco advanced 2.29% to £469.80, and AstraZeneca gained 1.70% to £14,090. Babcock International Group moved up 1.65% to £1,017.50, Sainsbury’s added 1.63% to £336, and GSK climbed 1.53% to £1,959.50.

    On the downside, RELX declined 2.20% to £2,308, Spirax Group slipped 1.62% to £6,675, and Computacenter fell 1.27% to £4,358. Next moved lower by 1.23% to £14,515, Diploma eased 0.84% to £7,125, and Rio Tinto edged down 0.69% to £7,048.

    Andrew Bailey Says Interest Rate Cut Off the Table

    Bank of England Governor Andrew Bailey stated that an interest rate cut is “off the table at the moment,” the clearest signal yet that borrowing costs are likely to stay elevated. “There was an expectation that we would cut rates this year,” he said. “That was off the table in March, and it’s off the table at the moment.” Bailey backed the Monetary Policy Committee’s decision to hold rates at 3.75% in June.

    Currys Revenue Rises

    Tech retailer Currys reported a 3% uptick in UK and Ireland revenue, reaching £5.4 billion, after outperforming the market through increased AI technology sales and the launch of new gaming devices. In the Nordics, revenue increased 12%. Profit before tax climbed 29% to £153 million, which included £34 million in restructuring costs. The group’s omnichannel sales strategy contributed 33% of UK sales. The board declared a final dividend of £2.25, bringing the full-year dividend to £3, and initiated a £50 million share buyback programme.

    Halma Unveils £55 Million Deals

    Halma announced nearly £55 million worth of acquisitions this morning, buying two firms to strengthen its position in specialist health markets. The tech group purchased Dutch digital platform itemedical for £20 million to expand its hospital workflow management offering, and Swedish firm Naslund Medical for £34 million. CEO Marc Ronchetti said the firms operate in areas with “long-term growth drivers and provide a strong platform for continued innovation and international expansion.”

    Global Market View

    In the US, Wall Street closed lower: the Nasdaq fell 0.7%, the S&P 500 declined 0.2%, and the Dow Jones lost 14 points (0.03%). In Asia, South Korea’s Kospi fell 7.89% to 7,648.09, Japan’s Nikkei 225 dropped 2.47% to 68,733.15, and Taiwan’s TAIEX dipped 0.58%. India’s Nifty 50 and Sensex both rose 0.57% and 0.62%, respectively.