Next was the highest gainer in the FTSE100 today, how come ?
Joe
What news did Next release ?
Jun 22, 2005
2 Replies
Retail shares had a good day, after Dixons reported, and the MPC minutes came out.
From ADVFN's Evening Market Bulletin tonight:
+++++++++ Back in London, renewed hopes that interest rates might be cut gave a much needed boosted to the struggling high street.This morning, the latest BoE's monetary policy committee meeting revealed two members surprisingly called for a quarter point rate cut at the last rate-setting meeting on June 9.
As a result, Kingfisher closed 6-3/4 higher at 251-1/2, Next jumped 49 pence to 1,512, Marks & Spencer was up 7-1/4 at 356-3/4, and Boots added 15-1/2 pence at 613.
Dixons shares were also in demand, 4-1/4 pence higher at 159-1/4, reversing earlier weakness, as the market initially fretted over a cautious outlook from the company as it published in-line full year results.
In reaction, Dresdner downgraded its rating to 'hold' from 'add', and advised clients to lock in profits
+++++++++
The FTSE 100 is at a three year high too.
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