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27 November 2015
The FTSE 100 opened lower after sharp falls on the Asian markets earlier today. There were concerns too that consumer confidence in the UK had fallen and growth in the service sector had slowed.
“China was back in the news when it emerged that regulators had questioned executives at two of its leading brokers for possible misconduct,” says AJ Bell Investment Director Russ Mould. “The main index in Shanghai dropped over 5% as a result and is now nearly 40% lower than at its peak in June.
“Investors will be watching the retail sector closely following early indications that there has been a slow start to Black Friday with crowds at major shopping centres reported to be significantly lower than on the same day last year. Shares in Tesco (LSE:TSCO), Sainsbury (LSE:SBRY), Morrison (LSE:MRW) and Marks & Spencer (LSE:MKS) were all marked down in early trading.
“Pennon Group (LSE:PNN) which owns South West Water was up almost 5% after reporting strong first half results and an increase in its dividend.”
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