FTSE 100 up with supermarket gains

Tuesday 21st July 2009

The FTSE 100 was up this morning aided by gains for supermarkets.

The London index was up 0.57 per cent at 08:54 BST to 4,469.02 – an increase of 25.40 points.

Last night in the US, the Dow Jones rose 1.19 per cent and the S&P 500 gained 1.14 per cent as optimism strengthened.

In London, Morrison Supermarkets led the gains rising 6.91 per cent after the retailer announced second quarter sales volumes were up.

The chain stated full year results would be ahead of expectations.

Sainsbury followed rising 2.29 per cent and Tesco was up 2.00 per cent.

Insurer Aviva saw gains of 2.44 per cent and miner Xstrata was up 2.32 per cent.

Leading the falls was Next, despite the fashion retailer raised its profit forecast for the second time in two months as warmer weather encouraged shoppers.

However, revenue at stores open for at least a year was down, taking Next down 0.97 per cent.

Friends Provident was down 0.96 per cent as the saga of a merger/take over with Resolution bumbles on.

TUI Travel and InterContinental Hotels were down 0.76 per cent and 0.47 per cent amid general unease in the travel sector amid swine flu concerns. ADNFCR-1783-ID-19273846-ADNFCR

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