Welcome to the weekly edition of What’s Hot In Stock Market News. To help you stay up to date with Shares and Stock Markets, here are some of the news items that caught my attention this week
What’s New This Week?
Why Gold Lost Its Lustre For Investors: A couple of years ago, so much scrap gold was coming through the door of Baird and Co that the company could barely keep up. It is the biggest producer of gold products in the UK and Baird, based in east London, uses scrap metal supplied by pawn brokers, traders and industry.
Amazon Stock Slides 10% On Earnings Miss: Shares on online retailer Amazon fell 10% in after-hours trading after it reported weaker than expected profits for the October-to-December quarter. The form made a net profit of $239m (£145m) during the period , up from $97m during the same period a year ago.
Serco Shares Fall 17% After Second Profit Warning: Shares in outsourcing firm Serco fell closed down 17% after it said profits this year would be up to 20% lower than expected. It said it was unlikely to meet analysts’ forecasts of about £277m. The news came as the government cleared Serco to resume bidding for public sector work after the scandal over its criminal tagging contract.
Mulberry Shares Slump On Profit Warning: UK luxury handbag maker Mulberry has said its full-year profits will “substantially” miss expectations, sending its shares down by 27%. It said retail sales fell over the key Christmas trading period, falling 7% in the eight weeks to 25 January.
Stocks Fall, End Worst January In Years: Good riddance to a cold January, and we’re not just talking about the weather. Stocks dropped sharply during the first month of the year, with the Dow tumbling more than 5%. That was the Dow’s worst January since 2009, when stocks were still in free-fall in the aftermath of the financial crisis.
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