Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 100 movers: Tesco rallies on results; Relx lifted by upgrade
(Sharecast News) - London's FTSE 100 was down 0.6% at 7,424.86 in afternoon trade on Wednesday. Tesco rallied as it hiked its retail profit and cash flow targets after a strong first half, with sales rising on the back of easing inflation.
Group sales excluding fuel were up 8.9% year-on-year to £30.7bn in the six months to 26 August, with inflation falling across the half and volume and sales mix trends ahead of expectations.
Russ Mould, investment director at AJ Bell, said: "Tesco is reaping the benefits of becoming a more competitive and well-run business.
"The grocery sector is cutthroat and Tesco is managing to stay ahead of the pack by being able to offer low prices on core products while also being very clever with its loyalty scheme.
"By offering big discounts to those using its Clubcard, Tesco is able to successfully compete against Aldi and Lidl while also learning more about its customers' shopping habits, enabling it to tailor offers in the future.
"It is experiencing two tailwinds - one is from people trading down from more expensive grocers and the other is selling more posh food under its Finest brand as people look to treat themselves at home rather than eating out."
Relx was lifted by an upgrade to 'buy' at Goldman Sachs.
National Grid also gained after JPMorgan Cazenove said in a research note that it was among its top picks.
FTSE 100 - Risers
Tesco (TSCO) 270.40p 4.16% International Consolidated Airlines Group SA (CDI) (IAG) 149.00p 2.90% Sainsbury (J) (SBRY) 255.10p 2.70% Rentokil Initial (RTO) 601.80p 2.21% Land Securities Group (LAND) 587.00p 2.16% Smurfit Kappa Group (CDI) (SKG) 2,708.00p 2.11% Relx plc (REL) 2,817.00p 2.07% United Utilities Group (UU.) 929.00p 1.75% National Grid (NG.) 946.80p 1.59% Mondi (MNDI) 1,353.00p 1.58%
FTSE 100 - Fallers
B&M European Value Retail S.A. (DI) (BME) 547.20p -3.32% BAE Systems (BA.) 985.20p -2.94% Whitbread (WTB) 3,324.00p -2.66% Imperial Brands (IMB) 1,586.00p -2.40% BP (BP.) 505.30p -2.04% Entain (ENT) 919.80p -1.86% Phoenix Group Holdings (PHNX) 454.40p -1.79% Frasers Group (FRAS) 784.50p -1.69% Fresnillo (FRES) 527.80p -1.68% Next (NXT) 7,014.00p -1.57%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
