08/01/15 Market Movements

Market News

Today saw the FTSE 100 close up 150.13 points at 6,569.96, after Tesco share prices soared 14.97%. This was after Tesco unveiled its plans to sell assets and cut costs to fund lower prices in store.

Tesco’s gains also saw Sainsbury and Morrison rise, by 9.93% and 7.76% respectively. Only eight of the constituents fell, with the largest of these being Marks & Spencer, falling 3.52%. The price slump followed  the company posting a worse-than-expected drop in sales over Christmas