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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

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    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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