lonmab
Sterling and euro see some recovery against the dollar.The NASDAQ Composite index jumped by 1.6%.S&P 500 index managed a 0.6% gain.Shanghai index fell 1.4%.Italy looks set for early elections, delaying much-needed reforms and next year’s budget.A Strong Start For Most MarketsSteve Clayton, Fund Manager at HL Select: “Markets look set for a positive start to the day, following strong gains on the tech-heavy NASDAQ market in the States overnight. The NASDAQ Composite index jumped by 1.6%, outpacing the broader-based S&P 500 index which only managed a 0.6% gain. Stock markets in Asia followed thr...
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Listed pub companies lose ground amid worries about a drop in spending.Strikes expected to worsen labour shortages in across hospitality.Hotels, bars and restaurants were already struggling with soaring energy costs and supply chain disruption.The Rail Strike Risks“The rail strike risks turning ongoing operational headaches into a fully blown migraine for the hospitality industry. Restaurants, bars and hotels were already struggling under the strain of sky-high energy prices, supply chain disruption and the ongoing labour crunch, and now the mass walkouts are set to cause fresh financial pain....
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Mitchells & Butlers plc (LON:MAB)’s first half revenue of £1.2bn reflects a 1.0% increase in like-for-like (LFL) sales compared to pre-pandemic levels. Sales benefited from the reduced rate of VAT on food and non-alcoholic drinks, which has now ended. An increase of 6.9% in LFL food sales was accompanied by a similar sized fall in drinks. Underlying operating profit of £120 was up from a loss of £124m last year. Inflationary pressures from wages, food and energy continue to present a “major challenge” to the sector and are expected to impact margins in the short to medium term. Q1 2022 hedge f...
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