Next's Christos Angelides goes shopping

Next's product guru Christos Angelides has splashed out nearly £300,000 on shares in the High Street fashion chain.

He took 13,845 shares at 2,058p a time. That takes his holding to 78,953 shares.

The purchase comes soon after Next's property director Andrew Varley took 9,500 shares at 2,051p a time.

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Shares in Next have been weak lately as nerves set in over the state of the UK economy.

The company said earlier this month that it expects profits this year to be at the top end of market forecasts after strong sales in the first three months of the year, though it is still very cautious on the outlook for consumer spending.

Angelides joined Next in 1986, becoming general manager of its sourcing office in Hong Kong in 1989, menswear product director in 1994 and womenswear product director in 1998.

Top Director Buys

Next (NXT) Director name: Mr C E AngelidesAmount purchased: 13,845 @ 2,058.00p Value: £284,930

Cable & Wireless Worldwide (CW.) Director name: Mr John PlutheroAmount purchased: 250,000 @ 78.32p Value: £195,800

Global Petroleum (GBP) Director name: Mr Mark SavageAmount purchased: 421,999 @ 7.77p Value: £32,789

Strategic Thought Group (STR) Director name: Mr Lynton BarkerAmount purchased: 156,250 @ 32.00p Value: £50,000

Dairy Crest Group (DCG) Director name: Mr Mark AllenAmount purchased: 10,000 @ 367.48p Value: £36,748

Strategic Thought Group (STR) Director name: Mr Alastair GordonAmount purchased: 78,125 @ 32.00p Value: £25,000

Top Director Sells

Anglogold Ashanti (AGD) Director name: Ms L EatwellAmount sold: 2,552 @ R330.00 Value: R842,160

Dialight (DIA) Director name: Mr Roy BurtonAmount sold: 23,221 @ 265.00p Value: £61,536

Experian Group (EXPN) Director name: Mr Fabiola R ArredondoAmount sold: 9,315 @ 594.00p Value: £55,331

Serco Group (SRP) Director name: Baroness Margaret FordAmount sold: 5,075 @ 596.11p Value: £30,253

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