The FTSE 100 is holding steady at the six-month highs recorded throughout the week so far.
One of the index’s biggest risers however is clothing retailer Next. Sales over the Christmas period were ahead of expectations. However, it warned profits would fall over the next two years.
London’s blue chip index is being weighed down by housebuilders following news that mortgage approvals are at their lowest level since June 2020.
Elsewhere, high street bakery chain Greggs said in a release this morning that its third quarter sales were up by 18%, and that looks like it had a good Christmas as well. The release also mentions that around a fifth of its 2,500 outlets are now open until 20:00, with the early evening sales now it fastest growest segment.
Retail giant Amazon said this morning that it’s cutting 18,000 jobs worldwide, mostly from its Amazon Stores division, with Chief executive Andy Jassy blaming a slowing global economy.
And among the small caps, Great Western mining said it expects the commissioning of a production mill in Nevada in the first half of 2023.