Top equity markets in the US continued to rebound on Friday after some lower-than-expected inflation data, while weak investor sentiment prevailed in Europe after a tumultuous week.
Over in New York, it was a choppy start to the day with Wall Street seeing an early sell-off, as US legislators rush to secure a deal to avoid a government shutdown. This helped fuel a rebound in equity markets after the Federal Reserve earlier this week revised its inflation forecasts higher. “Today’s PCE data serves as quite a reprieve after this week’s sell-off. If a resolution to the budget standoff can also be reached, the sharp decline in stocks might quickly transform into a bear trap.”
Just under two thirds of Boohoo’s shareholders voted against Mr Ashley being appointed as a director of the fashion retailer at a meeting at its Manchester base.Elsewhere, shares in Headlam jumped after the flooring distributor told investors it had sold properties in its portfolio for nearly £54 million.