Markets are looking at a very restrained end to the week, at least in early trade. Final results from pub operator JD Wetherspoon included news that the dividend had been reinstated but investors seemingly found little else worth cheering. The estate had contracted once again as the group looks to optimise operations and maximise shareholder returns, but the modest uptick in sales – and a 30% increase in operating profits – was seemingly already priced in. Less than an hour into the day and the JD Wetherspoon share price having traded as much a 1.6% higher is now close to unchanged.
The share price of luxury watch retailer Watches of Switzerland has been finding support since the recent trading update but more enthusiasm was found for the stock today following news that it had acquired Hodinkee, the editorial content provider for watch enthusiasts. There should be significant synergies to be had and the WOSG share price is trading more than 2% higher in early trade.
The clothing retailer published interim results mid-week and the market gave a lukewarm reception to the news despite records having been set. There has been no sign of a quick rebound either, with many evidently happy with the strong runs posted by the company over the summer. The downside pressures continued this morning and the JD Sports share price was down by more than 1.5% in early trade, making it one of the worst performers on the FTSE-100.
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