Apple shock and weak data drag down Wall Street – business live

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Asian markets fall following phonemaker’s warning of lower revenue

Some more good news for Next: stockbroker Liberum has upgraded its recommendation from “hold” to “buy” in light of the stronger sales growth.

Liberum analysts Tom Musson, Wayne Brown and Adam Tomlinson write:

We think is an excellent performance considering how bad November was for the sector and the scale of the downgrades we have seen elsewhere in fashion and clothing.

A spike in sales in the last three weeks of December helped save Christmas for the fashion chain Next but a surge in costly web orders will hit annual profits, writes Zoe Wood.

The high street bellwether is among only a few retail chains that resist pre-Christmas discounting and it was expected to have suffered as struggling rivals slashed prices to attract shoppers as Brexit jitters weighed on consumer confidence.

Related: Next's Christmas saved by late splurge from shoppers

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view The Guardian: World News
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