Sector movers: Supermarkets lead retailers higher on upbeat grocery data
Retailers were at the top of investors' shopping lists on Tuesday after an acceleration in UK retail sales growth lifted sentiment, while supermarkets were supported by some upbeat grocery news from Kantar.
Currys
61.75p
16:40 26/04/24
Food & Drug Retailers
3,956.27
16:59 26/04/24
FTSE 100
8,139.83
17:09 26/04/24
FTSE 350
4,470.09
16:59 26/04/24
FTSE All-Share
4,423.59
17:14 26/04/24
General Retailers
3,910.25
16:59 26/04/24
Marks & Spencer Group
261.50p
16:49 26/04/24
Morrison (Wm) Supermarkets
286.40p
16:55 26/10/21
Next
9,120.00p
16:34 26/04/24
Sainsbury (J)
261.40p
16:40 26/04/24
Tesco
288.90p
16:40 26/04/24
UK-listed supermarkets such as Tesco and Morrisons were making decent gains in afternoon trade, along with other high-street names like Marks & Spencer, Dixons Carphone and Next.
The British Retail Consortium (BRC) and KPMG retail sales monitor revealed that the annual rate of UK sales growth picked up to 1.6% in January after a 1% rise in December.
Helen Dickinson, Director General of the BRC, said: “Looking into the numbers a little more closely gives us even more cause for optimism – last year retailers had a bumper January so to see growth against such a tough comparison shows the industry to be in rude health."
Meanwhile, the figures showed that food sales increased for the second month in a row, with the three-month average showing 0.2% growth - the best performance since February 2014.
Separate data from Kantar Worldpanel revealed that the grocery sales increased by 1.1% in the 12 weeks to 1 February, its fastest rate of sales growth since last June, as the continued price war among the Big Four attracted more customers.
Tesco returned to growth for the first time in a year, recorded a 0.3% increase in sales, while Morrisons' 0.4% sales decline was its best performance since December 2013. Tesco's shares were up 3.2% while Morrisons jumped 4%.
Sainsbury however was reeling 1.3% after Kantar said that the grocer lost its position as the second-largest retailer by market share to Walmart's Asda.
Top performing sectors so far today
Food & Drug Retailers 3,290.84 +2.66%
Industrial Metals & Mining 1,814.13 +1.77%
General Retailers 3,020.52 +1.68%
Forestry & Paper 13,194.91 +1.66%
Tobacco 43,076.44 +1.60%
Bottom performing sectors so far today
Mining 14,132.26 -3.09%
Industrial Transportation 2,777.26 -2.60%
Oil Equipment, Services & Distribution 16,902.20 -2.58%
Oil & Gas Producers 7,353.25 -2.36%
Banks 4,345.81 -1.02%