Feb 07
23
Morning call
The DOW closed down 52 points and below the 12700 level and finding some support from the 20 ema at the close. The S&P had a small rally at the end of the day to close down 1 point, while the NASDAQ rallied from its days low to close up 6 points and again closing at a 5 year high. The FTSE, writes Greg Secker, 100 tested the highs but fell back at the close to add 23 points. Futures – DOW is called down 5 points, FTSE is called up 20 points. Oil is trading above the $60 level at $60.90. Gold is trading at $675.30
Supermarket giant Asda has announced it is to open 18 new superstores this year, creating 8,000 new jobs across the UK.
The Wal-Mart owned chain also said it would expand its existing businesses and create an extra ten Asda Living sites – which sell non-food items including clothes and home furnishings – over the next 12 months.
The company said the expansion of Asda Living would “play an integral part” in its growth this year.
It also announced plans to launch its first ecologically friendly store – the timber-framed superstore near Oldham.
This “marks the first stage in Asda’s new energy efficient store build programme,” the company claimed, noting the 35,000 square foot store would reduce energy consumption through a natural ventilation system.
As a result, the store would be 20 per cent more energy efficient than others in the chain, Asda added.
Wal-Mart shares were down 0.58 per cent to $49.97 (£25.61) on the New York StockExchange (NYSE).
