FTSE CLOSE: Inflation rate falls to 1.3%; Quiz reports ‘disappointing’ Christmas trading; Flybe collapse averted; Revolution Bars raises a festive toast
The FTSE 100 closed up 20.45 points at 7642.80 and the pound was at $1.30 against the dollar.
The Christmas period was tough for fashion retailer Quiz, as it said ‘challenging’ high street conditions caused sales to plunge a ‘disappointing’ 9.3 per cent in the seven weeks to January 4.
Struggling airline Flybe will remain trading after the government agreed to review airline passenger duty (APD) on domestic routes. Shareholders have also pumped new cash into the Exeter company.
Revolution Bars reported its seventh successive record year of Christmas trading. Like-for-like sales in the four weeks leading up to New Year’s Day increased 4 per cent on the previous year.