Clothes, drugs and mining
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The FTSE 100 started the session in negative territory ahead of today's inflation data and tracking overnight losses on Wall Street as the stateside earning season gets into full swing. Asian markets were generally higher and crude oil prices remained above the psychological $40 a barrel level.
“Online fashion group ASOS continues to impress investors with first half profits up 18% on a year ago and ahead of market forecasts,” says AJ Bell Investment Director Russ Mould.
“The group continues to see strong growth in strategic markets and its investment in technology and logistics is reaping benefits with a 21% rise in visits to its sites and an increase in average order frequency and value. The number of active customers has also risen by 17% which bodes well for further revenue growth.
"Pharmaceutical services and drug development group Ergomed was an early riser following a good first half and a strong order pipeline. The group’s revenues were up 43% and more than 85% of budgeted revenue for 2016 was contracted by the beginning of the year.
“Anglo American led the blue-chip board with fellow heavyweight miners Glencore, Rio Tinto and BHP Billiton in close attendance. Anglo American was buoyed by latest sales figures from its De Beers arm which showed demand for rough diamonds continues to be significantly stronger than at the end of 2015.”
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