Week ahead: Fashion retailers and builders are in the spotlight
Alongside the Bank of England’s first meeting after the UK voted to quit the European Union it will be a busy week of corporate numbers.
Bank of England officials announce their monetary policy decision on Thursday and many economists are expecting a loosening of interest rates.
The FTSE 100 rose to its highest level in nearly a year on Friday and posted its third straight weekly gains, ending the day up 0.9 per cent at 6550.30.
After last weeks poor performance from the nation’s housebuilders, the market is braced for a trading statement from Barratt Developments on Wednesday. The sector is under pressure as investors fret over the shock Brexit vote.
Among retailers, Aim darling Asos releases its third-quarter results tomorrow and investors are hoping it will be a bright spot after much Brexit-induced misery. On Wednesday luxury label Burberry will post first quarter results.
Other numbers to look out for include Begbies Traynor, Marks and Spencer and JD Wetherspoon.