“The FTSE100 opened in negative territory after Wall Street and Asian stocks made mild overnight gains, despite falls in the prices of crude oil and gold,” says AJ Bell Investment Director Russ Mould.
“Luxury shoes and accessories brand Jimmy Choo is on the front foot despite the difficult climate for the luxury sector and on track for another record year. Jimmy Choo’s revenue growth has been driven by new store openings and improved trading in all regions with continuing strength in China while the fall in sterling has also helped. Jimmy Choo’s shares were up more than 2.4% in early trading.
“Brewery group Fuller’s had a strong first half with like-for-like sales outperforming the market. Revenues were up by 11%, earnings increased by 9% and the interim dividend is up 5%. But there are changing and challenging times ahead with the impact of increases in business rates and the National Living Wage, combined with uncertainty around the UK's departure from the EU. Fuller's, though, has a solid balance sheet and a predominantly freehold estate, which is well-invested.
“Builders’ merchant and DIY group Grafton has strengthened its position in the Netherlands with an agreement to takeover Gunters en Meuser, the market leader in the distribution of tools, fixings and ironmongery in the Greater Amsterdam Area. Grafton entered the Netherlands a year ago with the acquisition of Isero. The combined business will trade from a network of 53 branches and it will become the market leader in the Netherlands tools, fixings and ironmongery market where it will have strong positions in the country's five largest cities.”
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