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“Equities opened higher despite a lengthy list of ex-dividend factors with investors welcoming the latest minutes from the US Federal Reserve which showed policymakers were split over the pace of interest rate rises meaning a September move is unlikely,” says AJ Bell Investment Director Russ Mould.
“Screwfix continues to be the jewel in DIY group Kingfisher’s crown with like-for-like sales rising by more than 13% while same-store sales at B&Q increased by a more modest 5.6% in the second quarter. Kingfisher’s overall like-for-like sales were up 3% with increases in its UK & Ireland and Poland businesses offset by falls in France which was dogged by widespread industrial action and exceptionally wet weather. Kingfisher has seen no discernible impact on demand following the Brexit vote although it has created uncertainty for the economic outlook.
“Capital & Regional has underlined its confidence in the resilience of the retail sector in the wake of the Brexit vote by increasing its interim dividend in anticipation of a positive second half. Capital & Regional, which has a portfolio of dominant in-town community shopping centres, has seen no sign of the robust letting activity abating post the referendum.
“Thomas Cook has signed a strategic hotel sourcing partnership with Webjet, an online digital travel services provider. The partnership will allow Thomas Cook to focus on growing its core differentiated holiday offering while at the same time providing customers with a wider range and choice of complementary hotels. Webjet's European online accommodation business, Sunhotels, will take responsibility for sourcing and contracting hotels that account for the majority of Thomas Cook's complementary business.”
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