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FTSE 100 virtually flat, as UK borrowing jumps and retail survey disappoints London’s blue-chip shares index struggles for direction after economic data FTSE 100 barely changed UK public finances scarred by pandemic costs 11.22am: Demand short-lived after shops re-open Retail sales were below expectations in recent weeks, according to the the latest CBI Distributive Trades survey. Volume of sales was +18 between the end of April and the middle of May, a period when retailers were open but the hospitality and leisure rules had not been fully relaxed. This was down from +20 previously.
UK CBI Total Distributed Reported Sales May: 43 (prev 30) LiveSquawk (@LiveSquawk) May 25, 2021 ....
This week, accountant EY said staff will work from home for two days a week for good. Rival BDO went further, telling staff to stay at home forever if they wish. Only investment banks have put their foot down, with Goldman Sachs and JP Morgan telling staff to come in. Charles Hall, analyst at Peel Hunt, said: ‘The current situation is pretty unhelpful. More unemployment in the UK is also a worry for Greencore.’ Stock Watch - Ted Baker Struggling British fashion group Ted Baker has managed to secure a new financing deal with its banks. Sales have plunged during the pandemic, necessitating a turnaround plan. ....
TOP NEWS SUMMARY: EU warns Belarus is playing Russian roulette Tue, 25th May 2021 10:51 (Alliance News) - The following is a summary of top news stories Tuesday. COMPANIES The UK Competition & Markets Authority said it is considering whether AstraZeneca s takeover of Alexion Pharmaceuticals will reduce competition. The regulator is inviting comments on the transaction to aid with its assessment. The deadline for its phase one decision is July 21. Earlier this month, both Alexion and AstraZeneca s shareholders voted in favour of the deal. AstraZeneca agreed to buy Alexion in December for USD39 billion to boost its work on immunology. The takeover has already been given the go-ahead by the US Federal Trade Commission in mid-April after competition clearances in Canada, Brazil and Russia, but Astra is still waiting on approval in the UK, EU and Japan. ....
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FTSE 100 ends lower while Wall Street slips from best levels after mixed US economic data The UK blue-chip index drifted to a negative finish, while US investors try to assess the latest housing and confidence figures Commodity companies lose ground US stocks lose nearly all their early gains UK public finances scarred by pandemic costs 5.02pm: FTSE softly lower at market close The FTSE 100 closed Tuesday down 22 points, 0.3%, at 7,030, while the FTSE 250 shed 45 points, 0.2%, to 22,439. The DAX has been the outperformer on a largely slow day, with the German Ifo hitting a two-year high, IG Senior Market Analyst Joshua Mahony wrote. On the UK front, reflation stocks have performed well, while miners continue to lose ground. ....