UK midcaps slide to 8-month low as retailers tumble, yields jump
- Tesco and Marks & Spencer reported significant challenges due to rising costs and economic uncertainty, with Tesco shares dropping 4% and M&S shares falling as much as 8.4% in early trading in London.
- Marks & Spencer's like-for-like sales rose 6.4% during the holiday season, but Chief Executive Stuart Machin acknowledged the external environment remains challenging.
- Concerns about the UK economy and fiscal plans by Chancellor Rachel Reeves are growing, as retailers face increased staff salary costs.
- Despite solid holiday performances, weakening consumer sentiment is a major concern for retailers, according to Stuart Machin, who noted a shift from optimism to anxiety among shoppers.
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Total News Sources0
Leaning Left0Leaning Right3Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
C 57%
R 43%
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