FTSE 100 movers: Supermarkets provide drag after Tesco issues profit warning
Shares in Tesco fell sharply on Friday after the supermarket giant announced it expects profits to fall by as much as 27% this year and its interim dividend to be cut by 75%. New boss Dave Lewis, who due to take over from Philip Clarke, will now join the group one month earlier than planned on 1 September.
Sector peers Sainsbury and Morrison were also both under pressure.
United Utilities was in the red after it was revealed customers in England and Wales can expect their water bills to drop about 5% between 2015 and 2020 in real terms as part of Ofwat's price review. The news was announced as part of the draft determinations published by the water regulator in response to the latest business plans submitted by water companies.
Drinks giant SABMiller fell despite announcing that its wholly-owned subsidiary, Sabsa, has completed the sale of its stake in Tsogo Sun through the placing of 293,896 shares and the sale of 7.78m shares. Tsogo Sun also repurchased the company's remaining 133.58m shares. Altogether, the disposal generated around $1bn.
Meanwhile, Astrazeneca shares jumped after it was reported that the group's treatment for colorectal cancer had advanced to the next phase in testing.
FTSE 100 - Risers
AstraZeneca (AZN) 4,559.50p +1.79%
St James's Place (STJ) 716.00p +1.70%
RSA Insurance Group (RSA) 457.10p +1.67%
Ashtead Group (AHT) 976.50p +0.98%
Sports Direct International (SPD) 726.50p +0.90%
Imperial Tobacco Group (IMT) 2,610.00p +0.81%
HSBC Holdings (HSBA) 651.30p +0.66%
3i Group (III) 391.50p +0.64%
GlaxoSmithKline (GSK) 1,470.00p +0.48%
British Sky Broadcasting Group (BSY) 875.00p +0.46%
FTSE 100 - Fallers
Tesco (TSCO) 229.50p -6.82%
Morrison (Wm) Supermarkets (MRW) 177.40p -5.08%
Sainsbury (J) (SBRY) 290.60p -4.25%
Marks & Spencer Group (MKS) 428.30p -2.24%
CRH (CRH) 1,395.00p -2.17%
easyJet (EZJ) 1,327.00p -1.92%
United Utilities Group (UU.) 874.00p -1.69%
Hammerson (HMSO) 604.50p -1.39%
Antofagasta (ANTO) 779.00p -1.39%
Reed Elsevier (REL) 980.50p -1.31%
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