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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Next plc    NXT   GB0032089863

NEXT PLC

(NXT)
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FTSE 100 dives to 6-month low on lockdown fears, Brexit uncertainty

10/28/2020 | 04:19am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Johnson under pressure for new lockdown - report

* Sunak to announce one-year spending plan on Nov. 25

* Retailer Next rises on upgrading profit outlook

* FTSE 100 down 2.6%, FTSE 250 drops 1.9%

Oct 28 (Reuters) - London stocks slumped on Wednesday, with the FTSE 100 tumbling to its lowest level in six months as investors dumped riskier assets on fears of more lockdowns and uncertainty over a British trade deal with the EU.

After falling as much as 3.5% in afternoon trade, the blue-chip FTSE 100 index closed 2.6% lower, dragged down by losses in mining, personal goods maker and bank stocks.

The domestically focused mid-cap FTSE 250 index slid 1.9% to a more than three-week low after a media report that Prime Minister Boris Johnson was being put under pressure for a new lockdown to tackle a swiftly accelerating second wave of infections.

"The markets don't like uncertainty, and with case loads up, there's chatter about potential universal lockdowns, which would be devastating for the economy and the market," said Greg Swenson, founding partner of Brigg Macadam, a London-based investment bank.

Swenson also stressed that fiscal policy that supports GDP growth, and more importantly wage growth, are needed along with central bank stimulus to support the real economy.

With markets under pressure this week on concerns that the new restrictions would derail a nascent economic recovery, investors will look to British Finance Minister Rishi Sunak's one-year plan for government spending on Nov. 25, which is to focus on tackling the pandemic and protect jobs.

Meanwhile, Brexit talks were also in focus, with government minister Michael Gove in a letter to a Welsh minister saying that Britain would not back down on its demands to the European Union over fisheries.

In company news, Next Plc rose 0.7% after the fashion retailer upgraded its full-year profit outlook on better-than-expected quarterly full-price sales.

Kaz Minerals jumped 10% after it agreed to be acquired by a consortium led by its chairman in a 3 billion pound deal. (Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V, Aditya Soni and Hugh Lawson)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRITISH POUND (EUR/GBP) -0.02% 0.89184 Delayed Quote.5.30%
KAZ MINERALS PLC -0.37% 638.2 Delayed Quote.20.06%
MSCI UNITED KINGDOM (STRD, UHD) -0.88% 992.939 Real-time Quote.-15.86%
NEXT PLC 0.46% 6576 Delayed Quote.-6.30%
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Financials
Sales 2021 3 580 M 4 786 M 4 786 M
Net income 2021 286 M 383 M 383 M
Net Debt 2021 1 961 M 2 621 M 2 621 M
P/E ratio 2021 29,9x
Yield 2021 0,95%
Capitalization 8 347 M 11 173 M 11 159 M
EV / Sales 2021 2,88x
EV / Sales 2022 2,36x
Nbr of Employees 28 545
Free-Float 93,9%
Chart NEXT PLC
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Technical analysis trends NEXT PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 6 234,37 GBX
Last Close Price 6 546,00 GBX
Spread / Highest target 26,8%
Spread / Average Target -4,76%
Spread / Lowest Target -41,9%
EPS Revisions
Managers
NameTitle
Simon Adam Wolfson Chief Executive Officer & Executive Director
Michael James Roney Non-Executive Chairman
Richard Simon Vaughan Papp Executive Director & Operations Director
Amanda James Executive Director & Group Director-Finance
Francis William Salway Senior Independent Non-Executive Director
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