Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

SummaryChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Captures Fresh Record, But Tesco And Marks & Spencer Stocks Falter

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/11/2018 | 06:44pm CEST

By Sara Sjolin and Carla Mozee, MarketWatch

Mining and tobacco stocks advance

U.K. stocks logged a fresh record close on Thursday, with tobacco and mining companies boosted by a weaker pound during the session and a rise in metals prices.

Supermarkets, however, limited gains for the London benchmark after disappointing trading updates from retailers Tesco and Marks & Spencer covering the crucial Christmas sales period.

How markets performed

The FTSE 100 index added 0.2% end at 7,762.94, taking out the record close of 7,748.51 set on Wednesday.

The pound bought $1.3540 after trading as low as $1.3458.

What drove markets

While other global markets have taken a breather from their recent rally, the FTSE has continued to keep a toehold in record-setting territory. On Thursday, the action in London was focused on sectoral moves.

Miners helped lift the benchmark on Thursday, as copper prices gained for a second straight day and inched closer to a four-year high.

Heavyweight tobacco companies also lent a helping hand, getting a boost from the drop in the pound during the day. Tobacco companies generate the majority of their sales outside the U.K., so weaker sterling lifts their earnings when translated back into the U.K. currency.

But the pound was eventually pushed back above $1.35, "lifted in the wake of the ECB minutes -- as the U.S. dollar sold-off," after minutes of the ECB's December meeting suggested it may take a more hawkish stance on monetary policy in 2018, CMC Markets noted.

Supermarket sweep

Shares of Marks & Spencer Group PLC (>> Marks and Spencer Group Plc) (>> Marks and Spencer Group Plc) slid 7%, after the retailer and supermarket chain said like-for-like total U.K. sales declined 1.4% in the 13 weeks to Christmas. Like-for-like food sales fell 0.4%, while clothing and home sales dropped 2.8%.

"There is no repackaging these figures as anything short of very disappointing. Food is the worry -- it's been the easy win for M&S for years but suffered a 0.4% like-for-like decline," said Neil Wilson, senior market analyst at ETX Capital, in a note.

In the same vein, Tesco PLC (>> Tesco PLC) (>> Tesco PLC) lost 4.5%. The company, Britain's largest supermarket chain, said it's confident in its outlook for fiscal 2018 after like-for-like U.K. sales rose 1.9% during the Christmas period. However, the general merchandise business and slower tobacco sales dragged on total performance, leaving analysts overall disappointed.

"Looking at competitors such as Sainsbury and Morrison, both have beaten their forecast for Christmas trading. This doesn't put Tesco in a strong position at all," said Naeem Aslam, chief market analyst at Think Markets, in a note.

Shares of J Sainsbury PLC (>> J Sainsbury plc) were fell 2.1% on Thursday, and Wm. Morrison Supermarkets PLC (>> WM Morrison Supermarkets PLC) lost 1.4%.

Stock movers

Shares of British American Tobacco (>> British American Tobacco) (>> British American Tobacco) rose 1.7% and Imperial Brands PLC (>> Imperial Brands PLC (ADR)) (>> Imperial Brands PLC (ADR)) added 1.4%.

Among miners, shares of Anglo American PLC surged 3.5% (>> Anglo American) , while BHP Billiton PLC (>> BHP Billiton Plc) (>> BHP Billiton Limited) (>> BHP Billiton Limited) added 1.8%.

Shares of Barratt Developments PLC (>> Barratt Developments Plc) was pushed down 2.7% even after the home builder said it had a strong performance in the first half of fiscal 2018 .

On an upbeat note, distribution and outsourcing company Bunzl PLC (BZLFY) gained 2.2% after saying it is taking over U.S. workplace safety company Revco as well as U.K. catering equipment business Aggora Group. It also said it received a binding offer to sell its OPM business in France.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FTSE 100 INDEX
04/20EUROPE MARKETS : European Stocks Slip Slightly From 7-week High As Consumer-good..
DJ
04/20FTSE : 100 posts fourth straight week of gains while Reckitt, Shire fall
RE
04/20LONDON MARKETS : FTSE 100 Ends At 11-week High As Pound Falls On BOE Rate-hike D..
DJ
04/20EUROPE MARKETS : European Stocks Fall From 7-week High As Consumer-goods Shares ..
DJ
04/20MARKET SNAPSHOT : U.S. Stock Futures Slip Lower, With GE Earnings On Deck
DJ
04/20LONDON MARKETS : FTSE 100 Rises, As Pound Falls On BOE Rate-hike Doubts
DJ
04/20LONDON MARKETS : FTSE 100 Rises, As Pound Falls On BOE Rate-hike Doubts
DJ
04/20Reckitt Benckiser Says 1Q Revenue Rose, Backs Full-Year Guidance
DJ
04/19EUROPE MARKETS : European Stocks Edge Up As Deal Developments, Earnings Reports ..
DJ
04/19FTSE : Shire, commodity stocks lift FTSE to 10-week high
RE
More news
News of the components of FTSE 100 INDEX
05:07pINTERCONTINENTAL HOTELS : IHG signs double hotel deal in Egypt with Arabia Hotel..
PU
04:09pHSBC : Injaz Bahrain, HSBC launch financial skills drive
AQ
02:27pASTRAZENECA : Highmark Inc. Signs Outcomes-based Agreement With AstraZeneca for ..
AQ
01:11pWPP : $2.3 billion WPP client puts global creative on review. What now?
AQ
08:17aBP : Environmental group cites continuing Gulf oilfield problems
AQ
08:04aSTANDARD LIFE ABERDEEN : £650billion man
AQ
08:04aWPP : Daily Mail, London, Mail on Sunday Business Briefs column
AQ
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | F100 | GB0001383545 | 4-Traders
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Top / Flop FTSE 100 INDEX
CRH PLC 2525 Delayed Quote.4.08%
SMITHS GROUP 1618.5 Delayed Quote.2.96%
STANDARD CHARTERED 764.4 Delayed Quote.2.56%
NMC HEALTH 3688 Delayed Quote.2.56%
MEDICLINIC INTERNATIONAL 690.6 Delayed Quote.2.37%
ROLLS-ROYCE 866.2 Delayed Quote.-1.21%
SMURFIT KAPPA GROUP 3136 Delayed Quote.-1.63%
GKN 467.9 Delayed Quote.-2.03%
RECKITT BENCKISER 5625 Delayed Quote.-2.78%
SHIRE 3821.5 Delayed Quote.-3.86%
Heatmap :