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Highlights
Tesco (LON:TSCO) posted growth in like-for-like across all regions in the first quarter.
Crest Nicholson (LON:CRST) maintained its full-year outlook following a rise in adjusted interim earnings.
Segro (LON:SGRO) named a new CFO as part of its senior leadership transition.
The FTSE 100 was poised for a softer open, following a positive close in the previous session. Market sentiment showed caution ahead of Thursday’s trading, with developments in retail and housing sectors drawing attention.
Tesco LFL Advance Across Regions
Supermarket retailer Tesco (LON:TSCO), listed on the FTSE 100, posted growth in like-for-like during the first quarter. The company recorded an uplift across its core UK operations, as well as in Ireland and Central Europe. The retail chain highlighted its ongoing efforts to increase market share, supported by volume growth and operational improvements across store formats and online channels.
UK performance remained robust amid competitive pricing and increased consumer demand. Ireland operations showed steady progress, while the Central European segment continued to deliver improvements despite regional cost pressures.
Crest Nicholson Full-Year Guidance
Crest Nicholson (LON:CRST), part of the FTSE 350), reported a rise in adjusted earnings for the half-year period. Despite a decline in completed units, the housebuilder shifted its focus toward the open market mid-premium segment, aiming to enhance margins.
Lower mortgage rates contributed to a more favourable market environment during the period. The company maintained its full-year guidance, pointing to strategic realignments within its product mix. The shift comes as UK homebuilders continue adapting to evolving preferences and affordability conditions.
Segro Appoints New CFO
Real estate trust Segro (LON:SGRO), which also features on the FTSE 100, announced a leadership change, naming Susanne Schroeter-Crossan as its incoming chief financial officer. She will succeed Soumen Das, who is set to step down at the end of the year.
Schroeter-Crossan currently the CFO role at a digital freight logistics firm. Her appointment is aligned with Segro’s focus on digital transformation and operational efficiency within the logistics property segment.
Broader Developments
A group of UK MPs and peers has urged an investigation into the funding of a high-profile media acquisition involving a US-based private equity firm. The concerns centre around foreign state affiliations and governance implications, citing links to senior officials from China. The matter has been formally raised with the UK culture secretary, calling for scrutiny under national security and media independence frameworks.
In broader equity movements, the FTSE 100 ended marginally higher in the previous session, reflecting cautious optimism. Early indications pointed to a weaker open, with global macroeconomic signals and corporate updates shaping investor sentiment across the FTSE spectrum.
