Ted Baker beats competition with impressive results
Shares in British clothing company Ted Baker (LON:TED) have risen over 2 percent this morning after disclosing strong earnings for the 19 weeks to June 11.
Revenue rose by 11.3 percent and sales were up 12.7 percent, with demand strong both online and in stores; several new store openings led store space to increase by 9.7 percent, with online trading jumping by 32.3 percent.
According to analysts, this set of figures puts Ted Baker well above competitors and paves the way for the company to meet full-year expectations of 12 percent to 15 percent profit growth.
Shares in gun companies jump on US shooting
Shares in US gun companies rose on Monday after an attack on a gay nightclub in Florida, killing 49 people and becoming the deadliest mass shooting in modern US history.
Smith & Wesson shares rose 6.9 percent, with Sturm, Ruger and Company finishing up 8.5 percent. Shares are wont to rise after a mass-shooting, with worries over impending gun law changes increasing the sales of weapons.
According to the Bureau of Alcohol, Tobacco and Firearms in the US, gunman Omar Mateen legally obtained both a 9mm semiautomatic handgun and a .223 caliber AR rifle in Florida within the last 10 days.
Oil supply and demand set to balance in second half of 2016
Oil supply and demand is set to balance in the second half of 2016, according to the International Energy Agency on Tuesday.
After a series of unplanned production outages surplus will fall, but may rise again in the first half of next year with demand growth remaining largely flat at 1.3 million barrels per day.
In its monthly report, the IEA said:
“We expect to see global oil stocks build slightly in the first half of 2017 before falling slightly more in the second half of 2017. For the year as a whole, there will be a very small stock draw of 0.1 million bpd.
“At halfway in 2016, the oil market looks to be balancing; but we must not forget that there are large volumes of shut-in production, mainly in Nigeria and Libya, that could return to the market, and the strong start for oil demand growth seen this year might not be maintained.”