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Supermarket woes fail to dent FTSE 100 Supermarket woes fail to dent FTSE 100
(about 3 hours later)
London's top shares gained ground in early Wednesday trading, despite signs of sagging in the supermarket sector. London's top shares rose in Wednesday morning trading, despite signs of sagging in the supermarket sector.
Tesco was the biggest loser on the FTSE 100 index, falling 1.8% after its full-year profits fell because of legal costs arising from a fine for overstating its profits in 2014. Tesco was the biggest loser on the FTSE 100 index, falling 5.1% after its full-year profits fell because of legal costs arising from a fine for overstating its profits in 2014.
Rival Morrisons also came under strain, dropping 0.85%, while Sainsbury's suffered as well, shedding 0.7%. Rival Sainsbury's also came under strain, dropping 2%, while Morrisons suffered as well, shedding 1.8%.
Overall, the FTSE 100 was up 32.58 points or 0.44% at 7,398.08. By lunchtime, the FTSE 100 was up 8.59 points or 0.12% at 7,374.09.
On the currency markets, the pound rose 0.05% against the dollar to $1.2498 and was 0.11% lower against the euro at 1.1767 euros. On the currency markets, the pound rose 0.06% against the dollar to $1.2499 and was 0.08% up against the euro at 1.1789 euros.