Business
UK retailers fall; Deutsche Bank downgrades stocks on weak consumer outlook
UK retailers fall; Deutsche Bank downgrades stocks on weak consumer outlook
About this update from Lohilo Foods Ab
** Deutsche Bank cuts PTs, downgrades some British retailers ** Says taking more cautious view on UK's consumer sector** Adds 2024 end, early 2025 likely to have been sweet spots, with real wage growth set to slow, unemployment fears set to build** Downgrades AB Foods LSE:ABF to "sell" from "hold", cuts PT to 2,130p from 2,220p; stock bottoms FTSE 100 index CURRENCYCOM:UK100, falling 4.3%** Cuts Wickes Group LSE:WIX to "sell" from "hold", lowers PT to 195p from 205p; stock top loser among all London stocks, slipping 8.2%** Reduces Kingfisher's LSE:KGF PT to 280p from 320p; downgrades to "hold" from "buy"; stock down 3.8%** Lowers Marks & Spencer's LSE:MKS PT to 435p from 450p; stock falls 1%** YTD, ABF up ~8%, WIX gains ~34%, KGF adds ~9%, MKS falls ~6%