Business

Supermarket woes dent FTSE 100

Market trader (file picture) Image copyright Getty Images

London's top share market slipped on Wednesday, following a poor performance by the supermarket sector.

Tesco was the biggest loser on the FTSE 100 index, diving 5.73% after its full-year profits fell because of legal costs arising from a fine for overstating its profits in 2014.

Rival Sainsbury's also came under strain, dropping 1.32%, while Morrisons suffered as well, shedding 1.07%.

By the end of the day, the FTSE 100 had lost 16.51 points or 0.22% to 7,348.99.

Miners also did badly with Rio Tinto, Anglo American, BHP Billiton and Glencore among the day's worst performers.

On the currency markets, the pound rose 0.05% against the dollar to $1.24980 and was 0.02% up against the euro at 1.17820 euros.