Good morning from London where the FTSE 100 is up once again this morning, reaching ten-day highs of around 7,350 points. Its been a rough morning for the mining majors though, with Anglo American, Rio Tinto, Glencore and Antofagasta all in the bottom ten of performers so far today.
Big mining stocks typically suffer when the markets are concerned about global growth, and there have been plenty of news stories this week suggesting that international investors are losing confidence in the Chinese economy.
A difficult day for Wilko employees too, after administrator PwC warned any likelihood of the full business being saved had now vanished, meaning store closures and job losses. Poundland and B&M are likely to pick up a combined 150 stores of the total 400.
Virgin Media is under scrutiny meanwhile, as consumer group Which? called on regulator Ofcom to investigate the legality of the firm’s broadband contracts, which appear to allow for unlimited price rises.
PureGym, which had been rumoured to be eyeing in float in previous years, provided some much-needed positive news – revealing a jump in half-year revenue on growing membership.
And finally, some cheery news over in the US where Nvidia shares are through the roof after the chip maker reported “record” revenue in its hotly-anticipated second quarter results. That’s all for this morning, I’ll see you again tomorrow
#ProactiveInvestors #FTSE100 #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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