Coming off the back of a strong week of gains, the retail giant published some upbeat full year result on Thursday which received a warm reception from the Market. The Frasers Group share price rallied by almost one pound during the session, before giving back some of that upside with the losses continuing into early trade on Friday. A bigger than expected decline in UK retail sales figures will be adding to the downside here, an hour into the day, shares were around 2.5% lower.
The owners of airlines including British Airways and Iberia saw their share price under pressure along with others in the sector on Friday morning. That disappointing economic news will be weighing but the global IT outage believed to have been related to a Microsoft upgrade is also taking a toll. With disruption impacting airports and airlines across the globe, it seems as if this could be contributing to the downside here. The IAG share price had been almost 3% lower in early trade although as the early morning session continues, losses have been truncated a little.
A marked fall in gold and silver prices following an admittedly strong rally in recent weeks seems to have taken a toll on Fresnillo’s stock in early trade on Friday. Precious metals prices have been supported by the idea that US rate cuts are incoming and this is something that will fuel inflation, but with gold especially having tested all time highs, profit takers do seem to be in play. The Fresnillo share price was off 25p or 4% just after 9am, with the company’s Q2 production report due on Wednesday.
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