Next's Christmas trading to be hit by Brexit and mild weather, says Jefferies
In a note to investors, titled a “Messy Xmas”, Jefferies maintained a ‘hold’ rating on Next but cut its target price to 4,600p from 5,600p.
Company
Associated British Foods PLC
LON:ABF
Associated British Foods is a diversified international food, ingredients and retail group with sales of £10.2 billion and 97,000 employees in 44 countries.
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FTSE 100 closes lower as US sinks with Santa rally looking a vague memory
At the close, the FTSE 100 was down 71.93 points, or 1.1% at 6,773.24, just above the session low of 6,761.37 and well below the early high of 6,845.17.
Investments and investor services
FTSE 100 reverses into close to finish lower as ECB ends QE stimulus program
FTSE 100 closed the day down; Mid-cap cousin FTSE 250 was also off - down over 170 points
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Can Sports Direct avoid the high street gloom when it updates the market on Thursday
Sports Direct and Ocado will be the next retailers in the spotlight as they both update the market.
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All eyes on UK parliament as Brexit deal circus reaches final act
Aside from the crucial Brexit vote, the Week Ahead will also bring UK labour market data, an ECB council meetings and updates from TUI, WPP, Dixons Carphone, Superdry, Ocado and BAT
AB Foods warns of “challenging” trading at Primark in run-up to Christmas
Primark had been displaying the resilience which other retailers such as New Look could only dream of, but investors will be wondering whether this is the first sign of trouble or just a bump in the road
Investments and investor services
FTSE 100 closes higher on day after dreadful week for European benchmarks
"A collective sigh of relief was felt across Oil markets after OPEC+ delegates successfully reached an agreement to cut production by 1.2 million barrels per day," said Lukman Otunuga at FXTM
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Berkeley to report drop in first-half earnings amid housing market slowdown
The day ahead includes interim results from Berkeley Group and the US non-farm payrolls report, while conditional dealings for AJ Bell's London IPO are due to begin
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Fashion firms and a housebuilder, plus US jobs data to provide interest in the first week of Advent
Ted Baker PLC and Joules PLC will fly the fashion flag, while Berkeley Group PLC will provide the mortar on a fairly quiet corporate diary at the start of December
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The conglomerate discount: Why Smiths is spinning off its medical division
The value of a conglomerate is almost always less than the combined value of its subsidiaries, which is why firms such as Smiths and Whitbread are spinning off some of their assets
Primark on track to overtake Next as UK’s second-largest clothes retailer by end of year
First-placed Marks and Spencer will be looking over its shoulder very soon as well
Weston family in £200mln dividend pay-out as profits rise at Associated British Foods
An interim payment of £50mln was paid out in July, with another £144mln due early next year after AB Foods hiked its dividend on the back of “another year of progress”
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FTSE 100 closes firmly lower as traders await US midterm election results
The UK blue-chip index lost over 63 points at 7,040, while FTSE 250 also fell, dropping around 20 points at 19,043.
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US midterm elections, Primark, Morrisons and Imperial Brands make for busy day ahead
The day ahead will see Americans go to the polls to vote in the midterm elections but closer to home the focus is on financials from AB Foods, Morrison's and Imperial Brands
Frontier IP achieves UK government recognition as commercialisation drive reaches Portugal
In early October, the company was presented with the ‘New to Market Award’ at the DIT Business Awards, an accolade that recognises its success in the country
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Trump mid-term test and US rate decision to give week ahead a Trans-Atlantic twist
Aside from the US elections and Fed policy meeting, updates from UK blue-chip retailers J Sainsbury, Wm Morrison Supermarkets and Marks & Spencer should draw the most attention in the coming week
ASOS: The high street killer
If video killed the radio star, ASOS, with a little help from its online peers, is killing off the high street
Is Debenhams' public listing the cause of its woes?
A City analyst has told Proactive that the department store's public listing has "had a negative impact" on its turnaround efforts
‘Fast Fashion’ draws ire of MPs on environmental waste concerns
Mary Creagh MP has written to the heads of companies with large clothing lines as part of an investigation into how the UK fashion industry can reduce its environmental footprint
Sirius Minerals advances, supermarkets Tesco, J Sainsbury, Morrison PLC rise
A look at some of the biggest risers and fallers in the London market Monday