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Burberry on the back foot
Trench coats, bags and cashmere scarves retailer Burberry’s (BRBY) post Brexit vote bounce has been halted by a first half trading update (18 Oct). It is cautious on the Americas, Hong Kong, Macau and major European markets. The weak pound has at least helped drive UK sales by 30% in the UK and Burberry’s ambitious sales growth and productivity plans are ‘well underway’. It trades at £14.01. (JC)