FTSE 100 opens higher; Whitbread jumps on solid first quarter - Market Report

Proactive - Interviews for investors

The FTSE 100 got off to a strong start, gaining around 0.5% to 8,185.28 in opening trades. Premier Inn owner Whitbread has booked an early place at the top of the leaderboard, up 3.1% after reporting solid first-quarter numbers and expressing confidence in achieving its full-year outlook. However, Ashtead Group fell 4% after its fourth-quarter results came in below expectations, with full-year profits down 2%. The construction equipment group also kept a lid on a mooted potential move of its main listing from London to New York. In macro news, monthly UK grocery data from Kantar shows price inflation dropping to 2.1% in the four weeks to 9 June, down from 2.4% a month earlier and the sixteenth consecutive monthly drop. This easing inflation and many rainy days led to the lowest take-home grocery sales growth in two years, which was up 1.0% in value terms in the four weeks. Of the listed supermarkets, Ocado Retail, the joint venture between Ocado Group PLC and Marks and Spencer saw the strongest growth, with sales up 10.7% in the 12 weeks to 9 June, with Tesco sales up 4.6% and Sainsbury's up 4.9%. #proactiveinvestors #marketreport #ftse #ftse100 #footsie #whitbread #premierinn #ashtead #katntar #ocado #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews