In the City this morning, blue chips have traded higher, with strong rises from Primark owner AB Foods.
It comes after Inditex, the Spanish owner of fellow fashion chain Zara, posted both revenues and profits in line with guidance, with sales rising 7% year-on-year.
British Gas owner Centrica shares dipped despite reiterating that profits will remain in line with expectations.
Much of the share price slide was likely driven by its claims that this year’s performance would feature against a “more normalised” backdrop, indicating that gas prices have retreated from the highs following the Ukraine invasion.
B&M, the discount retailer, saw its shares tumble too after it failed to provide any forward-looking guidance or updates on current trading. Analysts labelled the update “curious” and while there were claims of volume growth, the experts said mentions of like-for-like volume “appeared elusive”.
Meanwhile, Asda was found to be the most expensive supermarket fuel retailer, selling a litre of petrol for an average of 2.1p more than Tesco, Morrisons and Sainsbury’s.
