FTSE falters on inflation but miners lifted by Anglo American and Chinese hopes

Discussion in 'Market News' started by Lily, Apr 12, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Burberry down on disappointing LVMH figures while Costa departure hits Whitbread

    Leading shares are heading lower as a host of broker downgrades and higher than expected UK inflation outweighed positive moves from miners.

    Ashtead led the way lower, down 32.5p or nearly 4% to 809.5p as analysts at HSBC moved their recommendation on the equipment rental group from buy to hold, on the basis of the age of its fleet.

    The read-across [from LVMH] for soft luxury players is negative. Organic sales for the key Fashion & Leather Goods division were flat against our and market expectations of +3%, decelerating from +3% in the fourth quarter and +6% in 2015. We are therefore cautious on Burberry (underperform) and Kering (underperform) reporting on 14 and 21 April.

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