FTSE 100 flatlines at the open; Tesco rises as it consumes more market share - Market Report

Proactive - Interviews for investors

London's blue-chip index has kicked Friday off flat, failing to experience much of the AI rally which has pushed US indexes to record highs over the last few days.  Overnight in the US, Elon Musk had his US$56 billion pay package approved by Tesla shareholders at its AGM, marking the biggest bonus of its kind in history.  Shares in Tesla closed the session close to 3% higher and have kept flat in pre-market trading, but still remain down over 26% for the year.  Meanwhile, in the UK, FTSE 250 housebuilder Bellway revealed it had an offer for fellow industry rival Crest Nicholson rejected last month.  The deal valued Crest Nicholson at around £650 million, or 253p per share, but management believed it "significantly undervalued" the company and its future prospects.  Finally, Tesco has hailed food sale growth, driven by rises in fresh produce volumes, as a key aspect in extending its leading market share position further.  The country's largest supermarket increased its market share by 59 basis points to 27.6%, helped by growth in all its channels including food sales which rose by 5.1% year-on-year. #proactiveinvestors #marketreport #ftse #ftse100 #footsie #elonmusk #tesla #bellway #crestnicholson #tesco #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews