Friday,17 June 2022 16:50:22

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Friday,17 June 2022 at 15:51

Supermarket chain Tesco said it was seeing early indications of changing customer behaviour as a result of the cost-of-living crisis and inflationary environment.

Tesco reported a fall in first quarter sales, but maintained their annual guidance.

Like-for-like sales for the three months to May 28 fell 1.5% year on year to £9.8bn.

Customers spent less online and in the chains major stores, but 6.2% more in its convenience stores.

UK & European markets closed slightly higher, bringing an end to a volatile week as global stocks reacted to policy tightening from major central banks.

U.S. stocks steadied after sliding to an 18-month low, as concerns over the prospects of a recession remained elevated.

Oil priced lower.

Gold fell, dented by a stronger dollar and hawkish policy signals from major central banks.

Markets

At the close

FTSE 100 6,998 (-0.66%)

FTSE 250 18,930 +1.08%

DAX 13,118 +0.61%

At 17:00

Dow Jones 29,986 +0.22%

S&P 500 3,684 +0.49%

NASDAQ 10,808 +1.52%

Fixed Income

UK 10-YR YIELD 2.501

Exchange Rates

GBP/USD 1.220

GBP/EUR 1.165

Commodities

Gold $1,844 (-0.71%)

Brent $114.46 (-3.66%)

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.