The FTSE 100 index of leading shares lost 13.3 points, or 0.2% to 5416.4, paced by Tesco, after the nation's biggest retailer said sales growth would slow.
J Sainsbury and William Morrison supermarkets also slid but Tesco slipped to its lowest level in 19 months, falling 13p, or 4%, to 313.5p. The UK's biggest supermarket chain today said profit rose 18% in the first half but UK sales growth will be at its slowest pace in two years in the second half of 2005 as the industry has become more competitive. Sainsbury, the third-largest supermarket operator, dropped 8p, or 2.8%, to 275.5p while William Morrison, the fourth-biggest food retailer, slipped 4.25p, or 2.3% percent, to 178p. BAA also dropped 3p, or 0.5%, to 617.5p as the world's ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes