FTSE 100 at the opening, what's the latest

The FTSE 100 index began Friday’s trading session on a high note, buoyed by a strong performance from energy and mining stocks. The blue-chip index rose by 0.5% to reach 7,669.08 points at 09:00 GMT. Similarly, the FTSE 250 also saw positive movement, gaining 47.47 points or 0.3% to settle at 19,086.88. The AIM All-Share index followed suit, climbing 2.50 points or 0.3% to reach 794.06.

Frasers Group is the best-performing stock after the Sports Direct owner rallied 2% or 15.5p to 699.5p.

Tesco, experienced a slight setback as its shares dipped by 1.1%. Despite this, the company remains optimistic as it highlighted signs of easing inflation in the grocery market. Tesco’s first-quarter sales experienced a substantial surge, resulting in a 9.4% rise in revenue to £15.17 billion. The company remains confident in meeting its annual guidance, projecting a retail-free cash flow within the £1.4 billion to £1.8 billion range. However, even with this positive outlook, Tesco anticipates a potential 16% decrease from last year’s financial performance, which recorded £2.13 billion.

Building materials supplier Travis Perkins saw a 5% decline in its shares after warning of reduced profits due to higher interest rates impacting the housing market. The company estimates its profits to reach £240 million, down from the previous year’s figure of £295 million. Travis Perkins expressed disappointment as the expected improvement in housing market conditions during the second quarter failed to materialize. The company attributed this setback to elevated interest rates and weakening consumer confidence, primarily driven by persistent and unexpectedly high consumer price inflation.

Meanwhile, ITV experienced a slight downturn of 0.6% in its share prices. Confirming recent reports, ITV acknowledged its consideration of acquiring the production group All3Media. All3Media, jointly owned by Warner Bros Discovery and Liberty Global, has attracted ITV’s attention as a potential addition to its Studios unit. Sources indicate that Liberty Global may retain a stake in the business following the acquisition. Furthermore, Liberty Global currently holds approximately a 9.9% stake in ITV, strengthening their existing relationship.

ASOS share prices continue to be upbeat, jumping 6.2%, extending gains from the previous session on a return to profitability.

This morning‘s FTSE 100 risers and fallers

Ocado +3.47%
Frasers Group +2.71%
Entain +2.04%

Barratt Developments -1.05%
Halma -0.85%
Kingfisher -0.81%