Kalkine UK Stock Market Update: Tesco, Crest Nicholson, Wood Group Performance on FTSE Indices

Highlights

• Tesco LON:TSCO posts growth and Finest range performance while expectations

• Crest Nicholson LON:CRST reports stronger margins and higher operating despite lower completions

• Wood Group LON:WG. extends PUSU deadline in ongoing Sidara acquisition discussions

Tesco (LON:TSCO), listed on the FTSE 100, has released its Q1 trading update for the period ending late May. The supermarket chain reported a notable rise in group and indicated improvements in UK market share and customer satisfaction. One standout from the report is the performance of the retailer’s premium “Finest” range, with like-for-like showing significant growth compared to the previous period.

Despite a positive trading environment, the company has maintained its full-year guidance. The update follows continued competition in the UK grocery market, where Tesco’s operational scale and pricing strategies remain central to its performance. The update also comes on a reporting day that includes another FTSE-listed firm, Halma, marking a busy start to the trading week.

Housebuilding Sector Update: Crest Nicholson Reports Operating Growth

Crest Nicholson (LON:CRST), part of the FTSE 250, has published its half-year results with indicators showing positive momentum. While the total number of property completions has declined during the reporting period, the company has recorded a substantial improvement in operating. Gross margins have strengthened, and Crest Nicholson has cited no material inflationary pressures affecting its costs.

Management expects further improvement in the balance sheet through the second half of the year, with internal forecasts aligned to this outlook. With a focus on controlled cost structures and selective project completions, the housebuilder continues navigating a market shaped by demand variability and regulatory considerations.

Energy Services Sector: Wood Group Extends Sidara Offer Deadline

John Wood Group (LON:WG)., listed on the FTSE 250, has confirmed an extension of the Put Up or Shut Up (PUSU) deadline related to the possible acquisition by Sidara. The announcement follows delays in finalising audited accounts and further discussions with financial stakeholders.

As a result, Wood Group shares remain suspended from trading. The extended deadline now provides additional time for progress in the ongoing engagement between both entities. Wood Group continues to operate within the engineering and consulting space, with its business model influenced by broader global infrastructure and energy demands.

This ongoing acquisition dialogue reflects the complexity of large-scale corporate transactions, particularly where regulatory and financial reporting obligations intersect.