The FTSE is mixed this Tuesday despite the weaker pound. Sterling is still battling no deal Brexit fears as the UK Prime Minister Boris Johnson threatens that if no progress on the talks with the EU is made week, preparations for a no deal will be ramped up.
Britain’s biggest sports retailer – JD Sports (LON:JD) has announced the scrapping of its dividend after reporting a fall in profit and warned of the continued impact of lower footfall in its stores. But the retailer did reveal an above-forecast profit guidance for its full-year as interim sales only slipping by 7% compared to last year.
And staying with retail – the British Retail Consortium’s (BRC) measure of year-on-year growth in retail sales rose to 3.9% in August from 3.2% in July. This marks the biggest increase since May 2018. Experts are putting this down to more UK shoppers out there because foreign holidays are off the agenda for most people.
Synairgen (LON:SNG) is gaining today after revealing positive data from their phase II study on people with chronic obstructive pulmonary disease – there is an in-depth interview with CEO Richard Marsden on the Proactive website right now – with me.