January trade opens: and disappoints

Trading has opened in earnest for January with a straight and uninterrupted five trading sessions. However, there was concern and muted enthusiasm, as the new year opened with a string of disappointing forecasts across Europe.

William Hill, Next, Marks & Spencers, Ottakers, Stanleys, and Dixons, all reported disappointing trading over the festive period, and adjusted their profit forecasts accordingly.

There are also fears of imminent US interest rate rises, that could impact profit margins of American companies in an uncertain economy.

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