FTSE LIVE: City awaits detail from Boris Johnson as he is crowned PM; ITV earnings slump despite Love Island buzz; Discounter B&M sees sales soar
- ITV interim profits and sales fell despite hailing strong Love Island performance
- The pound is holding steady, awaiting more details on Boris Johnson’s plans
- Discount retailer B&M said UK sales jumped nearly 14 per cent to £968million
The pound has been relatively flat since Boris Johnson won the Tory leadership contest on Tuesday, highlighting just how much his victory was already priced in.
However, traders will have a keen eye on the details as they emerge today after the Eurosceptic is crowned PM and reveals the make-up of his cabinet.
In company news, ITV – which has been buoyed by the success of Love Island in the last few years – reported a slump in half-year revenues and earnings today on the back of a 5 per cent slide in advertising revenue.
And B&M is once again bucking the retail blues, revealing a near-14 per cent jump in UK sales over the last three months, helped by the opening of 12 new shops.
The pound has been broadly flat since Johnson won the Tory leadership contest on Tuesday