Business

Tesco shares bolstered by sales rise

Market trader (file picture) Image copyright Getty Images

(Close): The London market closed higher on Thursday, with Tesco among the winners after it reported a second consecutive quarter of rising sales.

The benchmark FTSE 100 index finished up 76.91 points, or 1.2%, at 6,338.10.

Tesco shares rose 1.8% to 169.50p after the supermarket said it was "encouraged" by its progress, with UK like-for-like sales up 0.3%.

The UK's biggest supermarket chain said it had agreed to sell its Harris & Hoole coffee shop chain to Caffe Nero.

In the FTSE 250, shares in DS Smith rose 6.1% after the packaging company's full-year results beat expectations.

For the year to 30 April, adjusted pre-tax profits climbed 12% to £332m.

On the currency markets, the pound rose 0.6% against the dollar to $1.48010, and edged higher against the euro to €1.30260.