U.S. stocks fell, halting a seven- day rally in the Standard & Poor’s 500 Index, while gold slid the most since July and Treasuries erased early gains as investors weighed prospects for Federal Reserve stimulus. Oil climbed ahead of U.S.-Russian talks on Syria.
Home Retail Group Plc , the U.K. retailer that cut its profit forecast last month, rose the most in almost three months in London trading after U.S. investment firm Madison Dearborn Capital Partners increased its stake.
Home Retail Group Plc said it’s less cautious about the outlook for sales this year as an expanded multi-channel offering and wider product range attract more shoppers to U.K. store chains Argos and Homebase.
Home Retail Group Plc, the owner of U.K. chains Argos and Homebase, rose to the highest price in 17 months after saying that accelerating sales growth at Argos over the holidays means full-year earnings will beat estimates.
Home Retail Group Plc said it expects consumer spending to remain “subdued” this year after sales slowed at the Argos catalog chain and higher promotions at Homebase led it to cut profitability outlook for the unit.