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FTSE 100 movers: Barclays rallies; Tesco hit by outlook
(Sharecast News) - London's FTSE 100 was up 3.7% at 7,966.36 in afternoon trade on Thursday. Barclays and Melrose Industries were among the top gainers, recovering from recent heavy losses on the back of tariff-related concerns.
Tesco slid as it warned profits in the current year could be squeezed, as competition from rivals ramps up.
The UK's biggest grocer said group sales in the year to February 2025, excluding VAT and fuel, had jumped 3.5% to £63.64bn.
Group adjusted operating profits rose 10.6% to £3.13bn, of which retail adjusted operating profit rose 7.7% at £2.97bn.
However, looking to the current year, the supermarket chain adopted a more cautious tone, following a "further increase in the competitive intensity of the UK market".
As a result, it now expects group adjusted operating profit to come in between £2.7bn and £3.0bn in the 2025/26 full year.
Kathleen Brooks, research director at XTB, said: "The company issued a profit warning this morning, due to higher costs and more price conscious UK consumers. Not even a larger share buyback could protect the share price today. This tells us two things: 1, now that tariffs are paused, the focus will shift to company-specific factors that will also start to drive stock prices in the coming days and months. 2, earnings misses will be punished by investors, which makes Q1 earnings season crucial for the direction of markets."
Sainsbury's and Marks & Spencer also lost ground.
FTSE 100 - Risers
Barclays (BARC) 266.10p 10.12% 3i Group (III) 3,922.00p 8.94% Intermediate Capital Group (ICG) 1,708.00p 8.86% Melrose Industries (MRO) 419.00p 8.58% Anglo American (AAL) 1,916.00p 8.57% Informa (INF) 694.40p 8.47% Smurfit Westrock (DI) (SWR) 3,176.00p 8.03% JD Sports Fashion (JD.) 74.54p 7.75% St James's Place (STJ) 876.20p 7.64% Experian (EXPN) 3,445.00p 7.49%
FTSE 100 - Fallers
Tesco (TSCO) 318.00p -5.13% Sainsbury (J) (SBRY) 226.00p -4.16% Marks & Spencer Group (MKS) 364.20p -0.44% Aviva (AV.) 499.10p -0.22% Reckitt Benckiser Group (RKT) 4,796.00p -0.02% RELX FINANCE BV 3.375% GTD NTS 20/03/33 (BW73) 99.72p 0.00% British American Tobacco (BATS) 3,084.00p 0.13% Croda International (CRDA) 2,651.00p 0.34% Imperial Brands (IMB) 2,819.00p 0.53% Associated British Foods (ABF) 1,958.50p 1.24%
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