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FTSE Close: Retailers fall as Nike spooks market

Stocks in London ended higher on Friday ahead of the Christmas break, with the FTSE 100 closing up 2.78 points at 7,697.51. The FTSE 250 rose 59.98 points to 19,630.95, while the AIM All-Share ended …

Stocks in London ended higher on Friday ahead of the Christmas break, with the FTSE 100 closing up 2.78 points at 7,697.51. The FTSE 250 rose 59.98 points to 19,630.95, while the AIM All-Share ended 1.95 points higher at 754.40.

However, retailers took a hit after Nike shares plunged 12% in late trading on Wall Street. The sportswear titan warned of a “softer” second-half revenue outlook, though it remains focused on “strong” margins. Nike is targeting $2 billion in cost savings over three years.

In reaction, JD Sports Fashion (LSE: JD) and Frasers Group (LSE: FRAS) fell 5.2% and 0.7% respectively in London.

On the upside, shares of in-game advertising firm Bidstack (LSE: BIDS) rocketed 97% after reaching a settlement and new partnership with Azerion Group. The deal will see Azerion pay €3 million to Bidstack (LSE: BIDS).

Isle of Man-based gaming group Webis (LSE: WEB) jumped 28% on a new agreement with US racetrack manager Monarch.

Meanwhile, vanadium producer Ferro-Alloy Resources (LSE: FAR) plunged 35% on weaker-than-expected Q4 revenue and production problems.

To all our readers, Investomania wishes you a very merry Christmas!

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