The FTSE closed at a new high yesterday, at 7215 up 5.90, 0.08%.
Morrison Supermarkets was one of the main gainers of the market as the fourth largest supermarket in the UK did better than expected in the Christmas trading. The results indicate that the recent Christmas trading was the best performance in the last seven years. The Share price was up 4.2 %.
However, Tesco, the UK’s number one supermarket has emerged the winner with the fastest growing sales among the sector over the Christmas period. Tesco was up around 5% at the close of yesterday’s trading.
In New York, USA, THE Dow Jones did reach 20,000 – a new high but closed below the figure at the end of yesterday’s trading.
President Elect Donald Trump met with Jack Ma – CEO of Alibaba and promised to bring 1 million jobs to America. I believe trading deals and brining jobs back America as well as creating Jobs will be a strong point for Mr Trump.
Alibaba’s earnings for last quarter are due out on January 24.
Back on President Elect Trump; he has appointed his son in law Jared Kushner as his senior adviser. Mr Kushner played a key role in Mr Trump’s campaign for the election, and is married to Ivanka Trump.
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Daniel Joseph MBA
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Futuretrend Training Academy
Financial Training Department.