Market Report
Sunday newspaper round-up: Lower growth, French election, PPI extension, Sky
The Bank of England is set to lower its growth forecasts this week after the economy faltered in the first quarter. The slowdown leaves a pre-Brexit interest rate rise looking increasingly unlikely, although inflation is already above the Bank’s 2% target and expected to rise further, the Sunday Times reported.
Sunday share tips: Supergroup, Rank, Venture Life
SuperGroup is a share to 'avoid', said the Sunday Times' Inside the City column, even though this week's results should show another strong quarter. The Japanese-styled youth fashion brand with its Superdry logo has grown impressively since being founded in 1985 to over 700 stores now. Boss Euan Sutherland took over with a mission to take the brand upmarket and into sportswear, shoes and accessories and more than half of revenues coming from abroad.
US close: S&P 500 ends week at record despite equity outflows, selling in commodities
Wall Street's main stockmarket gauges ended higher on Friday after what some economists labelled a "solid" jobs report for the month of April, with the S&P 500 notching up fresh record highs.