Tesco Shines in FTSE 100 Amid Market Dips
The FTSE 100 closed 0.2% lower despite achieving record highs, led by surges in Tesco shares which rose 5.2% after a profit forecast boost. Declines in the healthcare, energy, and industrial sectors weighed on the index, driven by drops in key stocks like BP, Shell, and Experian.
The FTSE 100 experienced a slight decline on Thursday, closing 0.2% lower, despite reaching new record highs earlier in the session. The drop was primarily influenced by setbacks in the healthcare and energy sectors.
Notably, Tesco shares soared 5.2%, topping the FTSE 100's gains, after the supermarket chain revised its annual profit outlook upwards, attributing the boost to strong customer responsiveness and market share growth.
In contrast, major oil companies like BP and Shell saw declines close to 1%, as the energy sector stumbled by 0.6% amid ongoing concerns over oil oversupply. The industrial support services sector also faltered, with Experian plummeting 4.2% following FICO's launch of a new licensing model.
(With inputs from agencies.)
- READ MORE ON:
- FTSE 100
- Tesco
- healthcare
- energy
- Experian
- BP
- Shell
- oil prices
- market share
- investments
Google News