Rolling coverage of the latest economic and financial news
Shares in UK discount retailer B&M have slumped by 15% after admitting an embarrassing mistake in its recent financial results.
B&M told the City this morning that approximately £7m of overseas freight costs had not been correctly recognised in its calculations for the cost of goods sold, in its recent results for the first half of the financial year.
At least participants appear to no longer be pointlessly worrying about insignificant financial institutions that nobody has ever heard of, and re-focusing on what remains a constructive setup for risk assets as we move towards year-end.
