Morning Markets: Tesco supports FTSE

clock

Strong Christmas sales at Tesco helped keep the FTSE in the black with a slight rise of 0.02% to 5,539.38 in early trading.

The UK's biggest retailer celebrated its strongest festive performance for three years, prompting a rise in its share price of 2.05% to 426.40p. Property company Land Securities has been added to the conviction buy list of broker Goldman Sachs, helping its share price rise 1.24% to 691.50p. Pharmaceuticals giant Smith & Nephew also saw strong gains, rising by 1.33% to 650p. Meanwhile, money broker ICAP fell 2.20% to 441p on the same day as its founder, Conservative party treasurer Michael Spencer, sold £45m of his shares in the business through HSBC. Cash strapped plumbers merchant Wo...

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

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Partner Insight: Tariffs are here to stay. What's next for investors?

Partner Insight: Tariffs are here to stay. What's next for investors?

The current outlook for US tariffs is complex and their full impact on growth remains to be seen. Columbia Threadneedle Investments explores what advisers need to know, key events to keep top of mind and how to navigate the uncertainty.

Columbia Threadneedle Investments
clock 23 October 2025 • 5 min read
IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

IFS: Reeves must plug £22bn fiscal hole to restore 'tiny' headroom

Think tank urges chancellor to avoid 'limping from one forecast to the next'

Linus Uhlig
clock 16 October 2025 • 2 min read
Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read