London stocks rose in early trading Tuesday. blood pressure The oil giant picked up the pace of profits as it expanded share buybacks.
At 0830 GMT, the FTSE 100 was up 1% at 7,686.51.
Investors were also considering the latest data: BRC and KPMGAnnual growth in UK retail sales slowed to a 17-month low in January as non-food sales fell despite easing inflationary price pressures, the report said.
Total retail sales increased by just 1.2% compared to January 2023, slowing from the 1.7% year-on-year growth recorded in December and the 2.7% annualized growth in November, the report said. . British Retail Consortium – KPMG Retail sales monitor.
The last time the year-on-year growth rate was below this level was in August 2022, when it was just 1.0%.
BRC chief executive Helen Dickinson said: “Retail sales growth has slowed due to easing inflation and weaker consumer demand. Sales in January helped boost spending in the first two weeks, but , it didn’t last through the month.”
“As the cost of living continues to rise into its third year, large purchases such as furniture, appliances and appliances remained weak,” Dickinson said.
“Clothing, particularly winter clothing and footwear, were weak due to the mild temperatures. Good news for health and beauty products, which continued to perform very well.”
Food sales rose 6.3% year-on-year in the three months to January, slowing from the 6.8% increase recorded in the three months to December, while non-food sales fell 1.8% (previously 1.5%). % decrease).
Mr Dickinson called on the government to prioritize the needs of retailers and their customers ahead of the spring budget and the next general election, expected at some point in late 2024.
“Employing 3 million people and supporting families and communities in every corner of the country, retail is an ‘everywhere economy’. From business rates increases to haphazard new recycling proposals to border control costs. By addressing cumulative burdens, the next government can free up retail investment and foster local and national economic growth.”
There is still more to come, S&P Global/CIPS Construction PMI for January will be released at 0930 GMT (12:30 pm Japan time).
In the stock market, blood pressure Energy giant tops FTSE 100 as it announces $1.75 billion share buyback despite weak annual profits as oil prices fall in 2023 due to soaring oil prices due to Russia’s invasion of Ukraine It skyrocketed.
Full-year underlying replacement cost profit, the company’s preferred revenue metric, halved to $13.8 billion from $27.6 billion a year earlier. Looking forward, BP expects upstream production to be reported in the first quarter of 2024 compared to the last three months of 2023.
renishaw Rising costs, wage inflation and currency fluctuations hit profit margins in the first half of the year, resulting in a 23% drop in adjusted profit amid challenging market conditions, but the company said it expected conditions to recover in the second half of the year and posted a profit. .
banking group virgin money The company also said it achieved first-quarter results in line with its guidance, with growth in new accounts, deposits and targeted lending activity with stable margins.
As a disadvantage, entertain fell after barclays Although the stock appears to be cheap, we downgraded the stock from “overweight” to “equal weight,” noting that the risk-reward balance is quite good.
market mover
FTSE100 (UK X) 7,686.51 0.97%
FTSE250(MCX) 19,093.60 0.39%
Techmark (TASX) 4,388.55 0.56%
FTSE 100 – Riser
BP (BP.) 482.20p 6.18%
Prudential (PRU) 844.20p 3.23%
Antofagasta (ANTO) 1,756.50p 2.09%
Kingfisher (KGF) 213.90p 1.81%
Sainsbury (J) (SBRY) 277.30p 1.76%
Anglo American (AAL) 1,841.00p 1.71%
M&G (MNG) 222.40p 1.65%
Rio Tinto (RIO) 5,433.00p 1.57%
BAE Systems (BA.) 1,197.50p 1.57%
Scottish Mortgage Investment Trust (SMT) 782.80p 1.53%
FTSE 100 – Falls
Ocado Group (OCDO) 518.20p -0.92%
Airtel Africa (AAF) 105.70p -0.75%
Pearson (PSON) 962.80p -0.60%
Entain (ENT) 985.40p -0.44%
British American Tobacco (BATS) 2,371.00 pence -0.29%
SSE (SSE) 1,674.50p -0.27%
London Stock Exchange Group (LSEG) 8,810.00p -0.18%
Coca-Cola HBC AG (CDI) (CCH) 2,321.00p -0.17%
GSK (GSK) 1,660.00 pence -0.16%
Fresnillo (FRES) 504.60p -0.04%
FTSE 250 – Riser
Renishaw (RSW) 3,552.00p 3.38%
Ithaca Energy (ITH) 134.00p 3.24%
Fidelity China Special Situation (FCSS) 187.80p 2.51%
Templeton Emerging Markets Investment Trust (TEM) 149.00p 2.05%
Bank of Georgia Group (BGEO) 3,820.00p 2.00%
NextEnergy Solar Fund Limited Red (NESF) 83.30p 1.96%
Grafton Group United (CDI) (GFTU) 964.60p 1.91%
Harbor Energy (HBR) 262.40p 1.74%
SDCL Energy Efficiency Income Trust (SEIT) 52.70p 1.74%
Virgin Money UK (VMUK) 152.10p 1.60%
FTSE 250 – Falls
Marshalls (MSLH) 283.00p -2.21%
Hill and Smith (HILS) 1,826.00p -2.04%
Playtech (PTEC) 443.60p -1.64%
TBC Bank Group (TBCG) 2,830.00 pence -1.39%
Tyman (TYMN) 289.50p -1.36%
Helios Towers (HTWS) 76.00 pence -1.23%
JP Morgan Japan Investment Trust (JFJ) 502.00p -1.18%
Wood Group (John) (WG.) 154.00p -0.96%
Wizz Air Holdings (WIZZ) 2,148.00 pence -0.92%
Felexpo (FXPO) 87.55p -0.91%