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Associated British Foods, whose businesses include sugar, grocery and clothing, said the profits in its latest full year improved further from its July update.
Sears just doesn't have a place in a world run by millennials.
Associated British Foods saw shares surge in early Thursday trading after it reported double-digit growth at its low-cost clothing retailer Primark and upgraded its full-year outlook.
Your round-up of the financial news from around the world.
ABF shares leaped to the top of the FTSE 100 after the Primark-to-sugar-to-Twinings tea conglomerate said profits nearly doubled in the first half of its fiscal year.
The FTSE 100 lagged its counterparts on Thursday following a run of broker downgrades and after a stronger pound ate into FX gains for London's blue chips.
One company has edged out H&M.
Associated British Foods cautioned Monday that margins in its discount clothing retailer Primark will be pressured this year owing to the sharp decline in sterling on global foreign exchange markets.
U.K. stocks fell, weighed down by retailers, while continental stocks rose.
Retail sales in the U.K. fall 1.9% from November, the biggest decline in four and a half years.
Retail sales in December fall 0.1%, industry figures show.
B&M outperforms fellow retailers during the festive season.
Next warns that a tough 2017 could pull down other retailers.
Like-for-like November retail sales were up just 0.6% in November.
Clothing sales jump the most since 2014, sending retailer stocks higher.
European stocks added cautiously to gains Tuesday but investors are in a cautious mood as Americans head to the polls to elect their 45th President.
Primark's retail brand saw sales rise 9% in AB Foods' fiscal year as it continues its march on rivals Zara and H&M.
Oil gathers pace as U.S. markets climb to positive territory.
Home builders rebound after days of loses.
U.K. real estate companies and home builders rise in London, while in Frankfurt ECB minutes from an early June meeting said existing monetary stimuli had yet to kick in.
Analysts say that Primark's sales could double with further expansion into the U.S.
Jeweler Pandora sees shares surge after increase in sales in the first quarter
European stocks rose on Thursday as the Greek government prepared detailed proposals to secure a third bailout. Stocks were also buoyed by a recovery in China.
European stock indices were mixed on Tuesday as an early boost from Asia abated. Several strong earnings reports competed to set the tone, opposed by continued nervousness about Greece.
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