Market Event, General

Week in Review: Post-Brexit Britain – 100 days in

Annie Charalambous, Friday, 9 April 2021

With Saturday marking the 100th day of the year, we're taking a look back at the impact of those first three months of Brexit, via Bloomberg. From an unemployment rate that's set the country back by ~5 years, to export barriers, to the 100,000 finance jobs PWC predict London will lose, the effects will be felt for a long while.

Keeping it on this side of the pond, here's a glimpse into the week behind us.

The Duke of Edinburgh passes away, aged 99

Buckingham Palace announced that Prince Philip, Queen Elizabeth's husband of for 73 years, had passed away early Friday morning. The longest-serving consort to a monarch in British history, the Duke was last seen in public in March after spending a month in the hospital.

The Duke will be honoured Monday, with the House of Commons sitting at 14:30 as a tribute to His Royal Highness, with further announcements to come “in due course”, said the Palace.

For more on Prince Philip's life, visit the BBC

Retailers and the pandemic

Asos' first-half profits came in at a record £106 million in the six months up to February 28th – a YoY growth of 253%. Revenues came in above £2 billion; an increase of 24% from the same period last year, as online sales soared during and between lockdowns.

By contrast, Frasers Group – parent company of Sports Direct and House of Fraser – has warned of an “almost certain” hit to the tune of £200 million. Just in February, the company had forecast a loss of half that, but following government warnings on a potential third wave had forced them to readjust these estimates.

Despite the news, $FRAS shares were up almost 1% at time of writing in Friday's session, while $ASOS was down 3.6%.

Movers & shakers

🔺 Delivery Hero (DHER) was the biggest gainer on the DAX Friday, up 2.74% as investors continue to move away from Deliveroo. Read more on delivery stocks' recent performance on CNBC

🔻 Johnson Matthey (JMAT) fell 4% Friday, as the company warned that it may offload its £2 billion health subsidiary. Get more via City AM

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