UK Market News: The UK stock market recovered on Friday from a sharp fall in the last session, with the blue-chip FTSE 100 index gaining around a per cent. Oil and mining stocks tried to push the blue-chip index lower as commodity prices slipped on sluggish growth worries, but a weaker pound gave the export-heavy index some support. However, fears of the recession continued to weigh on the mood.
Glencore Plc (LON: GLEN): The share of the commodity trading and mining company Glencore Plc surged by around 2%, with a day’s high of GBX 482.15. The company expects adjusted operating profit to be above US$3.2 billion, which is the top end of its medium-term guidance.
Tesco Plc (LON: TSCO): The share of the grocery and general merchandise retailer Tesco Plc rose by around 0.5%, with a day’s high of GBX 252.30. The supermarket giant said that shoppers are buying less, switching to cheaper products, and shopping more often as they try to cope with the cost-of-living crisis.