MS Galleon wants change at the topCTD deal 'detrimental' to shareholdersTopps outperforming weak marketMS Galleon, the major shareholder in Topps Tiles (TPT), has called for the tile retailer to overhaul its senior management and strategy following what it describes as a series of 'costly blunders'.Shares in Topps Tiles cheapened 2.25% to 39.1p on the news, with investors concerned a boardroom bat

Q3 like-for-likes down 9.7%But signs of sales stabilisation'Significant' online gainsTopps Tiles' (TPT) shares slid 4.2% to a 52-week low of 39p after the UK's leading tile specialist reported a 9.7% plunge in third quarter like-for-like sales as 'challenging' market conditions persisted.The share price reaction might have been harsher had Topps not stressed that sales stabilised through the quart

Stocks in London slumped as increased geopolitical tensions and interest rate uncertainty added to investor nerves ahead of the US jobs report.The FTSE 100 index was down 77.03 points, 1.0%, at 7,898.86. The FTSE 250 was down 202.97 points, 1.0%, at 19,670.22, and the AIM All-Share was down 3.61 points, 0.5%, at 738.97.The Cboe UK 100 was down 0.9% at 789.74, the Cboe UK 250 was down 1.0% at 17,12

Stocks in London were lower on Wednesday midday, as investor sentiment suffered with a persistently resilient US economy dampening expectations that US interest rates cuts will come sooner rather than later.The FTSE 100 index was down 30.55 points, 0.4%, at 7,904.54. The FTSE 250 was down 35.35 points, 0.2%, at 19,678.54, and the AIM All-Share was down 0.62 of a point, 0.1%, at 741.78.The Cboe UK

Like-for-like sales trend worsensProfits to be second-half weightedLiberum halves FY24 estimatesLike-for-like sales tumbled 11.3% in the second quarter at Topps Tiles (TPT) amid persistently subdued demand in the UK RMI (repair, maintenance and improvement) market, especially for bigger-ticket projects.Shares in the UK?s market-leading tile retailer cheapened 3% to 42.7p on a warning first-half pr

The retail sector has had a dire 2022, heavily sold off on fears earnings will disappoint as households curb spending due to rising UK inflation and the energy price crisis.Earnings expectations have been cut and investors have priced in a recession already, which means bargain hunters may take the view retailers are now oversold, particularly as prime minister Liz Truss' energy price guarantee wi

The FTSE 100 finished 0.81% in the green at 7,551.72 points on Wednesday, building on Tuesday's rally despite US CPI inflation hitting 7% in December, a 40-year high.With markets already pricing in rate rises, investors took the US inflation print in their stride, though it would have been a different story if the figure had strayed above the 7% most analysts had been expecting.Global equities wer

London's FTSE 100 traded 0.66% higher at 7,540.92 points by lunchtime on Wednesday amid the release of a slew of positive local earnings updates, including guidance upgrades from retailers Sainsbury's (SBRY), JD Sports Fashion (JD.) and Dunelm (DNLM), and as investors awaited the release of key US inflation data due later in the day.The global mood already had been lifted by testimony from Federal

Leading UK shares ended lower on Wednesday but off their weakest level after Russian president Vladimir Putin said the country would increase the amount of gas it will send to Ukraine via Europe, reining in surging gas prices that contributed to market weakness.At the close, the UK benchmark FTSE 100 was 81 points, or 1.15%, lower at 6,995.87, above the session low of 6,946.The more UK focused FTS

London's major shares continued to plunge through late morning trading on Wednesday, even after supermarkets giant Tesco (TSCO) posted bumper profits. Investors are clearly worried increasingly about rising US bond yields and soaring energy prices that have been stoking inflation threats, and possibly, sooner than expected interest rate rises.Oil prices were camped above $82 per barrel after produ

London's FTSE 100 traded almost 1% lower at 7,007.53 early on Wednesday, even after supermarkets giant Tesco (TSCO) posted bumper profits, as rising US bond yields and soaring energy prices stoked inflation fears.Oil prices were camped above $80 per barrel after producers' cartel OPEC failed to increase output and natural gas continued to touch record highs, leaving investors fretting that rising

One of the very few positive effects of last year's pandemic was an increase in consumers spending on the repair, maintenance and improvement of their flats and houses.Having been confined indoors for months at a time, it didn't take long for people to set about redecorating and adding more indoor or outdoor space so they could live and work remotely more comfortably.That led to an explosion in pr

Online-only building materials retailer CMO plans to list shares on AIM in early July to tap the boom in home improvement projects that has boosted the likes of Kingfisher (KGF), Wickes (WIX) and Travis Perkins (TPK).While there is limited fundraising and valuation target details available yet the stunning AIM debut of online bathroom products retailer Victorian Plumbing (VIC:AIM) demonstrates tha

UK stocks saw declines accelerate through the afternoon session to close sharply lower on Wednesday while investors also had to mull Deliveroo's (ROO) IPO car crash.The fast food delivery app saw its stock fall by more than 26% from its 390p IPO listing price, wiping nearly £2 billion off its valuation and burning thousands of retail investors along the way. The stock closed at 287.45p.That slump

The UK's leading shares continued to drift lower in early afternoon trading although recovering some of their earlier losses as investors mull Deliveroo's (ROO) IPO car crash.The fast food delivery app saw its stock collapse close on 30% at 278.15p after listing at 390p on Wednesday for a £7.6 billion valuation, burning thousands of retail investors along the way.That slump had no effect on Londo

London's FTSE 100 traded 0.4% lower at 6,747.46 early on Wednesday, despite the release of stronger-than-expected local economic data.Rising bond yields, and what they say about inflation and interest rate risks, had put US and Asian stocks under some modest pressure and the weak sentiment extended to Europe.UK gross domestic product grew by a relatively modest 1.3% in the fourth quarter of 2020,

It might not seem like it in the depths of a gloomy lockdown winter, but brighter days are ahead of us. By mid-February the UK hopes to have vaccinated most over-70s, with a large chunk of over-50s potentially covered by the end of March.This cohort should then be much better protected against Covid-19 and that could result in a new spending spree.Getting the vaccine should allow for the gradual r

Shares in tiles and flooring retailer Topps Tiles (TPT) edged 0.5% higher to 57.5p after the company saw a surge in sales in the 13 weeks to 26 December, but warned the new lockdown will impact trading.In a first quarter trading update, the firm reported a 19.9% increase in like-for-like sales compared to a 5.4% decrease in the same period a year ago, with strong growth across both its main custom

Optimism surrounding Covid-19 vaccines combined with positive factory data from China and the UK to send the FTSE 100 higher on the first trading day of December, the blue chip benchmark ending the session 1.9% up at 6,384.73.Gold regained its shine again amid a rare down day for cryptocurrency Bitcoin, while US shares were in demand with the S&P 500 up 1.3% to 3,669.14 by 4.30pm UK time.CORPORATE

The FTSE 100 was 2.1% firmer at 6,396.64 on Tuesday, the blue chip benchmark buoyed by positive factory data from China and the UK, although sterling remained volatile with Brexit talks going down to the wire.CORPORATE NEWSIn corporate news, department store Debenhams announced it is entering liquidation after JD Sports (JD.) pulled out of a deal to buy the group out of administration. Shares in J