The FTSE 100 is up 1.5 percent in early trading. Among the companies with reports and trading updates today are JD Wetherspoon, Marks & Spencer, Persimmon and YouGov. Read the Business Live blog from November 6 below.
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Marks & Spencer’s winning streak continues as profits rise
Marks & Spencer’s profits rose 17.2 percent in the first half, with the retailer continuing to beat expectations thanks to market share gains.
CEO Stuart Machin’s mission to revitalize the chain gained further momentum amid a focus on improving its food and clothing lines, online operations and retail offering.
The FTSE 100-listed group made a profit before tax and adjustments of £407.8 million in the six months to September 28, ahead of analyst forecasts and ahead of profits of £348.1 million at the same point a year past.
Wetherspoon’s Tim Martin warns of price rises in the hospitality industry after the Labor budget
Wetherspoon chairman Tim Martin has warned of price rises after the autumn budget, as he said the pub chain’s tax bill will rise by two-thirds next year.
Martib said he believes “all hospitality businesses” plan to pass on higher costs through price increases.
He said: “Cost inflation, which had risen to high levels in 2022, slowly declined over the next two years but has now risen again substantially post-Budget.
‘We think that all catering companies are planning to increase prices as a result.
“Wetherspoon will, as always, do everything we can to remain as competitive as possible.”
The dollar rises, the FTSE jumps and government bond yields rise as markets prepare for another Donald Trump presidency
Expectations of Donald Trump’s impending US election victory have pushed the dollar higher in early trading, with government bond yields soaring as the so-called Trump trade returned.
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