Tesco - Booker, BT and TClark

“Blue-chips opened on the front foot ahead of UK Prime Minister Theresa May’s meeting with US President Donald Trump in the Oval Office,” says AJ Bell Investment Director Russ Mould.

“Tesco soared to the top of the blue-chip index in early trading after announcing it would resume paying dividends next year and a £3.7bn deal with carry and carry group Booker. A tie-up between the UK’s biggest supermarket and a major wholesaler will inevitably raise competition concerns as Booker owns the Budgens, Londis and Premier chains and also supplies Tesco’s rivals. Tesco’s shares were up by more than 9.6% while Booker topped the FTSE250 board with its shares up by over 15.2%.

“BT continues to be haunted by the accounting scandal in its Italian business with quarterly profits down by 37% despite an increase in revenues. BT saw good progress in most of its business in the quarter with record growth at EE and a further rise in broadband customers. But these were overshadowed by the results of the probe into its Italian operations.

“Building services group TClarke’s shares jumped after it said underlying profits for the year ended 31 December would substantially up on last time. TClarke has entered the new financial year in a strong position with an improved forward order book of £330m.”

These articles are for information purposes only and are not a personal recommendation or advice.