Rare whiskies have emerged among the biggest beneficiaries as volatility in financial markets sparked a flight to safety and younger investors fuelled demand for tangible assets. Strong investor demand has pushed the value of “fine and rare” single malts up by more than a fifth this year with volumes jumping 23 per cent, according to a report by Scottish investment bank Noble & Co. In contrast, the FTSE 100 and S&P 500 have traded flat this year.
US blue-chip stocks wavered in holiday-light trade on Friday, but notched up a gain for the week as investors took heart from a dovish set of Federal Reserve minutes published earlier in the week. The benchmark S&P 500 closed little changed after a half-day trading session, while the tech-heavy Nasdaq Composite was down 0.5 per cent. Wall Street markets were closed for Thanksgiving on Thursday and activity is typically muted in the shortened Black Friday trading session. “The Fed is not behind the curve any more, or so it seems.”
The discount fashion giant is planning to open four brand new locations across the UK as part of a £140m investment plan in its stores.