LONDON MARKETS: FTSE 100 Slips As Oil, Retail Stocks Struggle
2018年1月19日 - 06:29PM
Dow Jones News
By Carla Mozee, MarketWatch
Stocks in the U.K. slipped Friday, teetering toward a fifth
consecutive loss, with oil shares dragged alongside a selloff in
oil prices, while retail stocks fell ahead of December data on
retail sales.
How markets are moving: The FTSE 100 index was off 0.1% at
7,697.03, led by losses for the oil and gas, telecom and financial
groups. But the basic materials and consumer goods sectors moved
higher. On Thursday, the London benchmark fell 0.3%,
(http://www.marketwatch.com/story/ftse-100-faces-4th-loss-as-pound-rises-primark-owner-falls-2018-01-18)
moving further away from its all-time closing high of 7,778.64 hit
last week.
For this week, the index was on course to fall 1%.
The pound traded at $1.3930, up from $1.3895 late Thursday in
New York.
Read:Why one contrarian investor says the British pound could
rally to $1.40 in 2018
(http://www.marketwatch.com/story/why-one-contrarian-investor-says-the-british-pound-could-rally-to-140-in-2018-2018-01-17)
What's driving markets: Retail stocks struggled before the
release of U.K. government data on retail sales for December, which
includes the crucial Christmas shopping season. Economists surveyed
by FactSet expect retail sales to have fallen 0.6% month-on-month
(http://www.marketwatch.com/story/uk-retail-stocks-could-get-a-boost-if-britons-splashed-out-cash-during-christmas-2018-01-18).
That's after November's forecast-beating climb of 1.1%.
Shares of DIY retailer Kingfisher PLC shares (KGF.LN) were
pulled down by 2.9% after flooring seller Carpetright PLC (CPR.LN)
issued a profit warning, sending its shares tumbling 40%.
Meanwhile, oil prices
(http://www.marketwatch.com/story/oil-prices-sink-1-head-for-biggest-weekly-loss-since-oct-2018-01-19)
were in focus and falling, extending losses after OPEC lifted its
2017 global demand estimate.
What strategists are saying: "It's another bad day for the U.K.
high street with more profits warnings, this time from Bonmarche,
Carpetright and Dignity. Trading updates from the trio only add to
a stream of negative New Year messages from management about poor
footfall, cost conscious consumers and growing preference for
online versus in-store," said Mike Van Dulken, head of research at
Accendo Markets, in a note.
Stock movers: Shares of oil producers BP PLC (BP.LN) (BP.LN) and
Royal Dutch Shell PLC (RDSB.LN) (RDSB.LN) fell 0.6% and 0.5%,
respectively, as oil prices pulled back, with Brent futures trading
below $69 a barrel
(http://www.marketwatch.com/story/oil-prices-sink-1-head-for-biggest-weekly-loss-since-oct-2018-01-19).
In the retail group, Marks & Spencer Group (MKS.LN) (MKS.LN)
was lower by 0.7% and Next PLC (NXT.LN) dropped 1.1%. Bucking the
weaker trend, luxury goods maker Burberry Group PLC (BRBY.LN)
(BRBY.LN) was up 0.3%.
Among supermarkets, Tesco PLC (TSCO.LN) fell 0.4%, J Sainsbury
PLC shares (SBRY.LN) shed 0.1% and Wm Morrison Supermarkets
(MRW.LN) gave up 0.2%.
(END) Dow Jones Newswires
January 19, 2018 04:14 ET (09:14 GMT)
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