12 January 2021 | 08:36am
StockMarketWire.com - UK stocks tracked sideways in early trade on Tuesday as fears about the economic impact of a third nationwide Covid-19 lockdown were tempered by a bevvy of company earnings upgrades.
At 0824, the benchmark FTSE 100 index had inched 2.04 points, or less than 0.1%, lower to 6,796.44.
Home improvement retailer Kingfisher added 3.5% to 289.2p on announcing that it was comfortable with the top end of current market expectations for its annual pre-tax profit as strong demand continued.
House builder Vistry rallied 3.6% to 984.5p, having guided for a full-year profit at the upper end of forecasts and resumption of dividends with a modest final payout.
12 January 2021 | 08:05am
StockMarketWire.com - Online retailer The Hut Group achieved a surge in annual revenue and upgraded its sales guidance for 2021.
Revenue for the year through December jumped 41% year-on-year to £1.61 billion, bolstered by a 51% improvement in the fourth quarter.
The Hut Group, or THG, said gross margin expansion in the second half enabled it to accelerate investments in people, global distribution centres, technology and new customer acquisition, while maintaining stable margins.
Revenue in 2021 was now expected to grow by 30-35%, up from previous medium-term guidance of 20-25% per year. Following our successful listing on the London Stock Exchange in September 2020, we have accelerated our sales growth across all areas of the Group, underpinned by record new customer numbers, executive chairman Matthew Moulding said.
12 January 2021 | 16:45pm
StockMarketWire.com - The FTSE 100 was off its lows for the day but still down 0.65% to 6,754.11 by the close as investors fretted about the pandemic.
The S&P 500 was a smidge lower by 4.30pm UK time, trading down 0.78 points at 3,798.72.
Home improvement retailer Kingfisher added 1.8% to 284.6p on announcing that it was comfortable with the top end of current market expectations for its annual pre-tax profit as strong demand continued.
Housebuilder Vistry surrendered earlier gains to trade down 0.2% to 948p, having guided for a full-year profit at the upper end of forecasts and resumption of dividends with a modest final payout.