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Trending tickers: Pound | Watches of Switzerland | Disney

A look at the stocks making headlines on Friday

Lucy Harley-McKeown
Updated ·1-min read
A view of a balloon with the pound symbol in front of the Bank of England during a protest against the hiking of interest rates outside the Bank of England in London, Britain, August 3, 2023. REUTERS/Susannah Ireland
The pound was at a 10-week low on Friday. Photo: Susannah Ireland/Reuters (Susannah Ireland / reuters)

The pound (GBPUSD=X)

The pound was in the spotlight on Friday having fallen below $1.26. Some market watchers put the dip down to S&P Global PMI data on Wednesday.

This showed factory activities were at their lowest since the pandemic period as firms under-utilised their operating capacity due to demand.

As it stands, the pound is at a 10-week low.

Read more: LIVE: FTSE rises as Ofgem cuts price cap for energy bills

Moves lower for the pound can also be attributed to strength in the dollar ahead of Federal Reserve chair Jerome Powell's Jackson Hole speech, which will give markets further indication of the US's rate path going forward.

Watches of Switzerland (WOSG.L)

Watches of Switzerland led losses on the FTSE 250 (^FTMC), declining 23.6% following news that Rolex has bought a rival retailer, taking its first steps into the realm of retail.

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Watches of Switzerland is currently the UK's biggest retailer of Rolex watches.

Disney (DIS)

Disney stock closed at its lowest price in nearly a decade on Thursday, excluding pandemic lows, as the company reported a mixed third quarter for 2023. It has seen some success, reduced losses, and a few disappointments overall.

Disney stockholders are scrutinising the company's turnaround plan after CEO Bob Iger said earlier this month the company would look to implement a mix of price hikes across its streaming properties, more ads and cost cuts to lift the business.

Premarket figures show the stock is set to open slightly higher, recouping some losses.

Watch: Disney stock slides as investors lose faith

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