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FTSE 100 opens down; Boohoo falls as boss steps down; gold at new record - Market Report

FTSE 100 opens down; Boohoo falls as boss steps down; gold at new record - Market Report

London's FTSE 100 fell by 30 points to 8,354 as trading got underway on Friday.

Boohoo shares slumped early on as the retailer was among the few to update with news its chief executive was to step down as a business review was launched. Figures for the first half of the year also showed the retailer’s revenues and adjusted earnings falling.

Elsewhere, Mothercare shares jumped almost 50% after its report signalled a swing to statutory profit in 2023, despite a drop in sales on pressure in the Middle East.

ONS data in the meantime showed sales across Britain’s retail sector grew by just 0.3% in September against August’s 1.0% uptick.

And finally, gold brushed new record highs on Friday morning, topping the US$2,700 an ounce mark for the first time.