FTSE off to a flat start as BP weighs on the market; Cosy Club owner Loungers rises - Market Report

Proactive - Interviews for investors

London’s blue chips opened flat after an underwhelming trading update from oil giant BP. The FTSE 100 was up just one point at 8,194 in the early exchanges with a dull read on retail sales also dampening the mood. BP dropped more than 2.5% as it said production would be flat this quarter with gas and other alternatives the main cause. Retail sales meanwhile dropped 0.5% like-for-like due to the persistent rain, reversing the 0.4% rise seen in May. Expectations had been for a 0.2% increase. Café/bar chain Loungers shrugged off the wet weather to post record sales and profits in its latest year helped by a spate of new openings. The Cosy Club owner said since the year end it had opened five more sites to add to 36 last year with sales up 5% like-for-like so far. Housebuilder Vistry reported completions were up 7% in its first half as it welcomed Labour’s plans to boost the building of more homes. #ProactiveInvestors #marketreport #ftse #ftse100 #footsie #bp #retailsales #Loungers #CosyClub #vistry #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews