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FTSE 100: Tesco expects robust growth, group sales increase – City Index Spread Betting Update

 


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Spread betting provider City Index ( http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 20th April 2011. Headlines include Tesco share prices lifting during early morning trading.

Tesco has seen its share price lift during early morning trading on the FTSE 100 today (April 20th), with the premier platform itself up by more than one per cent.

For the 52 weeks ended February 26th 2011, group sales rallied by 8.1 per cent compared to the same period of the previous year to stand at £67.6 billion.

Underlying profit before tax surged by 12.3 per cent to hit £3.8 billion, while dividend per share grew by 10.8 per cent.

Following on from yesterday's news, the share price of the retailer had climbed up the FTSE 100 by 0.53 per cent as of 08:39 BST today, potentially reflecting how its stock remains attractive to investors.

Chief executive of Tesco Philip Clarke said: “I am pleased with our strong overall performance in the face of some challenging conditions and we are well-positioned, with multiple opportunities to deliver long-term growth and rising returns. "

See how you can start spread betting with City Index at http://www.cityindex.co.uk/spread-betting/

Spread betting and CFDs are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.

* Spread betting and CFD trading are exempt from UK stamp duty. Spread betting is also exempt from UK Capital Gains Tax. However, tax laws are subject to change and depend on individual circumstances. Please seek independent advice if necessary.

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, CFD trading and, in the UK, financial spread betting .

We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support. Visit http://www.cityindex.co.uk/ for more spread betting information.

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