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UK retail shares in the red, Standard Chartered slips further

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  • Economy
  • 3 months ago
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London’s FTSE100 index was down by 0.3% today as retail shares went into negative territory as the online fashion retailer ASOS crashed by 40%, while the other indexes followed suit.

The FTSE250 down 0.5% and the AIM All-Share dipped by 2.5%.

City Index analyst Fiona Cincotta stated that, "Sentiment is building against UK-listed retail stocks which were leading the FTSE 100 down. This follows ongoing reports that shoppers are simply not spending enough in the shops in the run up to Christmas."

BHP was the best performer on the blue-chip index, climbing by 3% following a successful buyback of Australian listed BHP Group.

Standard Chartered fell by 2.5% amid a portfolio restructure following the sale of its private equity investment portfolio and its private equity business to Intermediate Capital Group, which itself was down by 0.7%.

 

 

Source: Smart Trend Team