Burberry Group

Ticker BRBY

Today's data summary

Market closed
% change
+1.69%
Price Pence
2102.00
Change
+35.00
As of 18:07 17 Aug 2019
Market cap. Pound sterling
8,649.00 million
As of 18:08 17 Aug 2019

Latest updates

Johnson Matthey shares slide

Car exhaust
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Johnson Matthey is leading the FTSE 100 fallers on Wednesday after the speciality chemicals group lowered the profit outlook for its largest operation, which makes pollution filters for cars and trucks.

Its share price is down 4.1% at £32.49.

Luxury fashion house Burberry is the biggest blue chip riser for a second day, up 2.9% at £23.45 after it announced strong first quarter financials on Tuesday.

The FTSE 100 is trading 0.21% lower at 7,561.52.

Housebuilding and construction group Galliford Try leads the FTSE 250, up 6.5% at 651.75p after it reaffirmed its outlook for the full year.

In May, the company announced a restructure of its construction business, impacting up to 350 jobs.

The FTSE 250 is a little lower at 19,640.35.

Burberry shares soar to the top of FTSE 100

Riccardo Tisci
Getty Images
Riccardo Tisci joined Burberry as chief creative officer in 2018

Strong like-for-like sales over the first quarter have propelled shares in luxury fashion house Burberry to the top of the FTSE 100, up 11.78% at £22.24.

Fans of the label have embraced designs by chief creative officer Riccardo Tisci while the company also reported stronger demand in China.

Investors welcomed Pearson's decision to switch paper in favour of technology for its new school text books. Its share price is 3% ahead at 889.9p.

Online property site Rightmove is the day's biggest FTSE 100 faller so far, down 2.35% at 519.55p.

The FTSE 100 is up 0.36% at 7,558.96.

On the FTSE 250 - up marginally at 19,591.11- AG Barr's share price remains in the doldrums after a shock profits warning. Its share price is now down 24.97% at 652p.

Burberry like-for-like sales rise

Burberry collection
Getty Images

Fashion-conscious shoppers appear to have fully embraced Burberry's chief creative officer, Riccardo Tisci, after the company reported a 4% rise in like-for-like sales in the second quarter.

Total revenues for the 13 weeks to 29 June also rose by 4% to £498m.

Burberry said it increased the availability of new products designed by Mr Tisci, who took over from Christopher Bailey in 2018, which helped boost sales.

It reported growth in the Asia Pacific region, lifted by China where it has previously faced challenges.

Burberry confirmed its financial outlook for 2020.

Energean shares jump on $750m Edison deal

Energean Oil & Gas rig
Energean Oil & Gas

Energean Oil & Gas's stock has soared to the top of the FTSE 250 risers after announcing it will buy oil and gas assets from Edison of Italy for $750m.

Its share price jumped 10.34% to 929p.

The FTSE 250 narrowly reversed an earlier decline to trade up 0.11% at 19,813.11.

The FTSE 100 has eked out a small gain, rising to 7,613.63.

Bottling giant Coca-Cola HBC is now leading the blue chip fallers, with its share price down 6.7% at £28.68.

Luxury fashion house Burberry continues to top the risers. Its share price is ahead 2.17% at £19.53.

Subdued open for London stocks

Burberry fashion show
Reuters

The FTSE 100 opened virtually unchanged at 7,608.54.

Shares in luxury fashion house Burberry led the blue chip risers, up 1.5% to £19.44.

But International Consolidated Airlines Group, which own British Airways, is the biggest faller, down 7.4% to 451p.

The FTSE 250 ticked marginally lower. Defence and engineering contractor Babcock International saw its shares drop 5% to 445.6p. Shares in peer-to-peer lender Funding Circle rose 5.6% to 128.4p.

Burberry ditches Leeds plan

Burberry trenchcoats, models
Getty Images

The Yorkshire Post is reporting that Burberry has abandoned plans for a trenchcoat factory in Leeds and will sell the land it was considering developing.

“We remain committed to Yorkshire and the UK, and as part of this we will continue to invest in our existing manufacturing operations in Castleford and Keighley, home to our iconic Burberry Heritage trench coat," the firms is quoted as saying.

Hermes pulls Burberry higher

Burberry handbag
Getty Images

Another gainer in the FTSE 100 is Burberry.

It shares have jumped after rival Hermes reported strong sales growth in the fourth quarter.

Handbag company Hermes said fourth quarter sales rose 9.6% in the fourth quarter.

"We are still growing strongly in Asia, we did not see any change in momentum in our stores in China," Axel Dumas, chief executive of Hermes, said.

China matters to luxury goods company, contributing around a third of sales.

Burberry's shares were up as much 1.5% in early trading but are now up 0.7%.