Fashion, funds and electronics

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Monday 30 November 2015

The headline index was down in early trading taking its cue from depressed Asian markets with stocks in China remaining under pressure following Friday’s reports that the country’s top brokerages are under investigation.

“Investors warmed to fashion retailer French Connection (LSE:FCCN) after it reported strong sales for its winter collection,” says AJ Bell Investment Director Russ Mould.

“The group has struggled in recent years but it seems to have turned the corner with a considerable improvement in its first half performance and with the all-important Christmas period to come it is on track to meet market forecasts.

Aberdeen Asset Management (LSE:ADN) was at the foot of the blue chip board in early trading. Underlying pre-tax profits increased but assets under management fell, reflecting negative sentiment towards emerging markets. The group believes the long term fundamental attractions of investing in these high growth economies remain compelling but investors are concerned that the current weakness may have some way to run.

“Electronic components distributor Acal’s (LSE:ACL) shares were up after its first half underlying pre-tax profits jumped by 72% at constant currencies to £6.8m. Operating margins have doubled in the past five years and growth has been driven by successful acquisitions and from organic initiatives.

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