FTSE 100 Live 03 October: Tesco “in good shape” amid profit upgrade, Brent Crude near $75 a barrel

Supermarket elephantine Tesco contiguous upgraded nett guidance aft measurement maturation exceeded its expectations successful the archetypal fractional of the fiscal year.

It present forecasts astir £2.9 cardinal of retail adjusted operating nett for 2024/25, compared with its erstwhile estimation of astatine slightest £2.8 billion.

Today’s half-year results showed a 3.5% emergence successful revenues to £31.5 cardinal successful the six months to 24 August, with retail adjusted operating nett up 9.7% to £1.55 billion.

Chief enforcement Ken Murphy said: “We are successful bully shape, with measurement maturation delivering beardown fiscal performance.”

Tesla shares past nighttime closed 3.5% little arsenic the car shaper made 1 of the biggest moves successful an different lacklustre league for US traders.

The fallback, which follows a beardown tally for Tesla shares since aboriginal August, came connected the backmost of 3rd 4th transportation figures abbreviated of Wall Street expectations.

The Dow Jones Industrial Average and the Nasdaq Composite roseate 0.1%, with the S&P 500 scale broadly flat.

Against this backdrop, the FTSE 100 scale is forecast to unfastened 2 points little astatine 8289 aft closing 14 points higher successful yesterday’s session.

Brent Crude futures this greeting traded conscionable beneath $75 a barrel, with the lb down 0.6% astatine $1.318.