News in brief: Eurozone boost as OECD sees growth, Buoyant last year hits Dunelm growth, Electra offloads 4m esure shares
Hopes for economic recovery in the eurozone today received a boost as the OECD said growth is picking up in most industrialised countries.
Its monthly indicator for its 33 member countries inched up to 100.5 in February from 100.4 in January, slightly above the long-term average of 100.0, last seen in October. The OECD said the US is leading, France is stabilising, Italy and Germany improving and the UK broadly flat.
Buoyant last year hits Dunelm growth
Home furnishings retailer Dunelm has warned sales growth will be “much harder” to achieve from this month as it starts to overlap buoyant revenues from last year.
The chain, which sells bedding, curtains and kitchenware, shrugged off the recent near-Arctic weather to post a rise in underlying revenues by 5.2% over the 13 weeks to March 30. Total sales grew by 15.4% to £177.8 million.
Electra offloads 4m esure shares
Private equity group Electra has offloaded two-thirds of the esure shares it held after the insurer’s IPO last month, it has emerged. The investment vehicle netted £11.2 million from the sale of 4 million shares but will retain 2 million due to a so-called “lock-up arrangement”.Esure’s shares have risen by less than 2% since they were listed on the London Stock Exchange. The company was valued at £1.2 billion at the time of the IPO.
