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Supermarket woes fail to dent FTSE 100 Supermarket woes dent FTSE 100
(about 5 hours later)
London's top shares rose in Wednesday morning trading, despite signs of sagging in the supermarket sector. London's top share market slipped on Wednesday, following a poor performance by the supermarket sector.
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. Tesco was the biggest loser on the FTSE 100 index, diving 5.73% after its full-year profits fell because of legal costs arising from a fine for overstating its profits in 2014.
Rival Sainsbury's also came under strain, dropping 2%, while Morrisons suffered as well, shedding 1.8%. Rival Sainsbury's also came under strain, dropping 1.32%, while Morrisons suffered as well, shedding 1.07%.
By lunchtime, the FTSE 100 was up 8.59 points or 0.12% at 7,374.09. By the end of the day, the FTSE 100 had lost 16.51 points or 0.22% to 7,348.99.
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. Miners also did badly with Rio Tinto, Anglo American, BHP Billiton and Glencore among the day's worst performers.
On the currency markets, the pound rose 0.05% against the dollar to $1.24980 and was 0.02% up against the euro at 1.17820 euros.