Shares in retailer McColl's (MCLS) halved to 2p on Monday after the indebted convenience store operator issued yet another earnings alert and warned that its equity may be worthless.The 'community retailer' said it is discussing a financing solution with its lenders and key commercial partner Morrisons to resolve its short-term funding issues, though the cash-strapped company added ominously:...

Shares in McColl's Retail (MCLS) crashed 53% to just 3.3p after the convenience store operator posted yet another profit warning and confirmed that a bid for the whole business has been withdrawn.In response to media speculation that it is at risk of collapse, the 'community retailer', which raised £30 million from shareholders in a cash call just six months ago, said it is remains in funding...

UK stocks resisted the general downdraft in markets after official figures showed the economy grew 0.9% in November compared with October, well ahead of the consensus forecast of a 0.4% increase and taking it back above its February 2020 pre-pandemic level for the first time.US markets fell sharply overnight after more hints from the Federal Reserve that interest rates could rise sooner rather...

Shares in embattled McColl's Retail (MCLS) slumped 26% to an all-time low of 13.4p on Wednesday after the convenience store operator downgraded annual earnings guidance once again, pinning the blame on continuing supply chain disruption.The earnings alert follows a profit warning served up in August, when the retailer reported disappointing first half figures and flagged that supply chain...

London's major stocks opened modestly lower as the inflation genie continues to work its way out of the bottle, although banks defied the gravitational pull.At 9am, the benchmark FTSE 100 was 0.13% down at 7,317.61 after UK inflation rose to its highest in almost a decade. But there was plenty of demand for bank stocks, seen as benefitting from an increasingly likely rise in interest rates,...

London's FTSE 100 ended Thursday's trading session materially lower after US producer prices data came in ahead of forecasts, the blue chip benchmark closing down 0.4% at 7,193.23 points despite better than expected UK GDP figures.In the US the S&P 500 was flat at 4,447.27 points by 4.30pm UK time.STOCK SPIRITS RECOMMENDS CVC OFFERIn company news, central European branded spirits producer...

London's FTSE 100 ended Monday's session in positive territory, wiping out earlier losses to trade firmly above 7,100 by the close of play and shrugging off a weaker open on Wall Street, where the S&P 500 was down 0.16% to 4,429.43 by 4.30pm UK time.COMPANY NEWSIn company news, wealth manager Hargreaves Lansdown (HL.) sank 11.2% to £14.57, even as it reported an 8% rise in annual underlying...

Shares in convenience stores operator McColl's Retail (MCLS) dipped 0.1% to 31.7p after the retailer reported a plunge in annual adjusted pre-tax profits and passed the dividend despite seeing a pandemic-driven like-for-like sales leap last year.The profits drop reflected the impact of lower margins and ongoing Covid-related costs, though McColl's has extended its wholesale partnership with...

UK stocks opened lower on Tuesday, despite a fall in the local unemployment rate, as Germany imposed stricter Covid-19 lockdown measures in a sign the pandemic is far from over.London's FTSE 100 softened 0.5% to 6,691.8 points early on, while the FTSE 250 fell 0.4% to 21,361.91.The UK unemployment rate fell to 5.0% in November to January, down from the last reading of 5.1% in October to...

London's FTSE 100 opened stronger on Monday as Covid-19 vaccine rollout efforts continued to gather momentum in the UK and in major economies such as the US.Investors also welcomed impressive growth figures from China and the passage of Joe Biden's $1.9 trillion stimulus package in the US, which helped the blue chip benchmark 0.45% higher to 6,791.88 points early on.PROVIDENT FINANCIAL...

UK shares started the new week and month in an optimistic mood, shrugging off recent inflation and bond market jitters as the focus shifted to a vaccine-led recovery and US fiscal stimulus.Trading in Asia was strong with the Nikkei 225 gaining 2.4% and the SE Composite adding 1.2%. Gold prices were 0.7% higher at $1,750 an ounce while Brent Crude added 0.25% to $62.63 a barrel. The pound was...

UK shares started the new in an optimistic mood, shrugging off recent inflation and bond market jitters as the focus shifted to a vaccine-led recovery and US fiscal stimulus.Trading in Asia was strong with the Nikkei 225 gaining 2.4% and the SE Composite adding 1.2%. Gold prices were 0.7% higher at $1,750 an ounce while Brent Crude added 0.25% to $62.63 a barrel. The pound was steady against...

UK shares opened the new month higher on Monday, shrugging off recent inflation and bond market jitters as the focus shifted to t0 vaccine-led recovery and US fiscal stimulus.Trading in Asia was strong with the Nikkei 225 gaining 2.4% and the SE Composite adding 1.2%. Gold prices were 0.7% higher at $1,750 an ounce while Brent Crude added 0.25% to $62.63 a barrel. The pound was steady against...

Shares in the UK's fourth-largest supermarket group by market share Wm Morrison (MRW) climbed 0.6% to 182p after it posted a positive Christmas trading update and confirmed its current-year earnings guidance.Sales over the key Christmas and New Year period were strong with like-for-like revenues up 9.3% excluding fuel. Demand for traditional seasonal favourites such as champagne and smoked...

Shares in supermarket group Wm Morrison (MRW) fell 4% to 187p on Thursday after the firm posted lower sales and earnings for the six months to the start of August.Total group revenues were down 1.1% to £8.73 billion due to a significant fall in fuel demand during and after lockdown, which is now rebuilding.Excluding fuel sales, revenues were up 8.8% to £7.55 billion with the second quarter...

UK stocks continued their downward slide on Wednesday as the coronovirus spread further in Europe and the Middle East and a US solider become infected with the disease. The FTSE 100 fell 53.3 points to 6,964.59 early on, making it the sixth day straight of declines for the UK benchmark index.The FTSE 250 followed the blue chips into negative territory, shedding 192 points to...

Shares in the UK's fourth-largest supermarket group Wm Morrison (MRW) gained 3.5% to 199p despite what were generally seen as disappointing second half sales.For the 22 weeks from 5 August to 5 January, group like-for-like sales were down 1.7% due to a negative contribution from the retail business and a flat performance at the wholesale business.Including fuel, which has been a 'highly...

London's FTSE 100 traded 78.7 points lower at 7,155.2 on Tuesday as investors fretted over the looming UK general election, the latest US decision on interest rates and the question of whether the Trump administration will go ahead with tariff hikes on Chinese goods on 15 December as scheduled.Embattled fashion label Ted Baker (TED) tumbled 20.4% to 318p as it warned on profits again following...

UK stocks start Thursday trading on the front foot buoyed by a firm showing for US markets overnight, offsetting more trade tariff tightening that will see the US impose an extra $300bn burden on Chinese goods by the end of the year.The pound continues its decline as investors worry about Brexit no-deal implications, although comes as a boon for the FTSE 100, sidestepping the swathe of mid cap...

Bradford-based supermarket Morrisons (MRW) trades 2.15p lower at 223p, despite serving up a 10% hike in annual profits - an impressive third consecutive rise against a difficult consumer backdrop - proposing yet another special dividend and reporting rapid growth in its exciting wholesale business.Investor disappointment perhaps centres on a like-for-like sales growth slowdown in the fourth...