As I write at 3.25pm the Street of Dreams is having a bit of a blub.  The DOW is down 140 points. Nonetheless the FTSE 100 remains somewhat resilient, though trading conditions have been rather somnolent. The FTSE 100 is down 10 points at 7280. Let us ‘doff our titfer’ to the mining sector, which has been relatively buoyant, despite the Dollar coming off the boil.  The sector is up between 1.5% and 2% on the day, with the usual suspects Glencore, Rio and Anglo-American to the fore! Drug companies were off nearly 2% thanks to Trump ‘huffing & puffing’ about Obamacare. However Glaxo and Astra are down just under 1%.


Apart from that thumb-nail sketch today’s news more or less concerns those companies that reported a trading statement of figures.  Having been up almost 5% at the opening, M&S is only up 0.25% towards the close.  Their figures were good but one swallow does not make a summer.  As for Tesco the sales were a little light at +1.5% like for like in the last 13 weeks – shares down 1.75%.  Also overseas sales were disappointing. Debenhams (shares +5%) have excelled themselves with sales up 3.5% over Christmas. ASOS saw sales up 36% but the bar was set high and expectations greater – shares down 1.3%.  AO World was a disaster.  Its shares were trashed by 13%. .  Bookers posted an improved effort – +1.9%. SuperGroup’s efforts came up a little light – shares -2.5%. AB Foods’ Primark only increased sales by 11% over the holiday period – shares were clattered – down 4.9%. Dunelm did not have a good day. This on-line fabric service disappointed with their shares being ‘tonked’ by 6.2%.  JD Sports had a stellar session – +8%.  Eat your heart out Mike Ashley!


I suppose the kissing had to stop after 12 consecutive days of progress, though there is still an hour to go!



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